banner_ad

Tax audit

This query is : Resolved 
Profile Image

Profile Image

(Querist)
29 February 2012 A merchant navy captain is earning 5 lakhs a month, annually 10months * 5L = 50L (on leave for 2 months a year)
Is he subject to tax audit?
Is his job covered under profession?
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
29 February 2012 What is the source of income? Is is from salary?

If it is from salary, then tax audit is not required because tax audit is only in case of business/profession income.
Profile Image

Mihir Doshi

Profile Image

Mihir Doshi (Expert)
29 February 2012 Clarify the nature of source. i.e. by way of business or salary...

Thanks
Mihir Doshi
Profile Image

Alok mukherjee

Profile Image

Alok mukherjee (Querist)
29 February 2012 Appointment letter speaks of compensation offered by the Shipping company to the captain. This is similar to a contract & a fresh contract is made every 3 months.
Can this be treated as salary?
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
29 February 2012 It will be treated as professional income as employer-employee relationship does not exist.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details