24 December 2011
We have a partner ship firm & providing services of Drawing & Design services to in Engineering sector. We have crossed Gross sales/Service Receipt 15 Lac.
Please advice us, what is the receipts/sales limit for Tax Audit U/S 44AB.
(a) “professional services” means services rendered by a person in the course of carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or advertising or such other profession as is notified61 by the Board for the purposes of section 44AA or of this section;
Conclusion:- If you fall in any one of the above profession you are liable for tax audit if gross receipts exceeds 15 lacs.
CAclubindia
