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TAX AUDIT APPLICABILITY

This query is : Resolved 
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(Querist)
08 January 2010 CA PROPRIETORY FIRM HAS TURNOVER OF 11 LACS ( PROF FEES) WILL IT BE SUBJECT TO TAX AUDIT.
ALSO IF ANSWER IS YES, WILL SERVICE TAX COMPONENT CONSIDERED AS PART OF TURNOVER FOR TAX AUDIT OF PROPRIETORY CHARTERED ACCOUNTANTY FIRM
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
08 January 2010 Yes.
Depends on the method of accounting regularly employed. If service tax collected is seperately credited in an account and serice tax paid is debited in that account itself, service tax collected will not form part of Gross receipts for the purpose of section 44 AB of the Income tax Act,1961 as opinioned by ICAI ,in the contest of sales tax, through thier publication 'Guidence note on Tax Audit'
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CA Shailesh +91 9393926464

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CA Shailesh +91 9393926464 (Expert)
09 January 2010 Yes. Agreed with Mr. warrier
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CA Manasa

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CA Manasa (Expert)
09 January 2010 Yes Agree with the members
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