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Tax audit limit

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 December 2013 Whether a professional (i.e. holding a professional degree) carrying on a business of running a coaching classes. What would be the tax audit limit for such an assesse - 60lakhs or 15 lakhs?
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Manish Bhandari

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Manish Bhandari (Expert)
19 December 2013 It will be 25 Lakhs as coaching comes under vocation. And vocation & profession fall under same category.
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CA Kedar Sakhardande

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CA Kedar Sakhardande (Expert)
19 December 2013 I believe that it should be under catagory of business and limit is Rs. 100 Lacs (AY 13-14)

For me Profession means which requires professional certification doctor, CA LLB etc
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Manish Bhandari

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Manish Bhandari (Expert)
20 December 2013 THERE IS court judgement which i will share as not available with me now, which says vocation is parallel to profession.
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