Tax audit limit for tuition classes
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 June 2014
Eligibility criteria for Tuition Classes income limit for Tax audit is Rs.25 lacs or Rs.1 crore???
Nikhil Kaushik
(Expert)
18 June 2014
there is a considerable debate on this. Some say its a profession...some say its just a business. so if the coaching is for CA, CS, ICWA, engineering, medicine etc, you may contend that it is profession..whereas if it is just for school classes - class V, VI etc, you may argue that it is just business
24 June 2014
yes it depends on service provided to whom whether to profesionals or not.
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