Tax audit query

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 August 2013 Hi All,
Please provide the solution for the following:
IF the revenue of Coaching classes exceeds Rs.25 lacs in a year, then pls tell me whether is it covered under tax audit? i.e. which income tax section would be applicable , sec.44AA or 44AB ?
Also tell me , if coaching institute is run by professionals, for eg.CA/LLB/MBA for coaching of professional courses, then whether there is any differenciation in tax audit limit between other coaching classes providing coaching to std.10/12/Bcom. ?
also note that : coaching classes can be registered as an individual or a firm or a pvt ltd co. ? so would this impact the tax audit of a institute ?
Pls answer this ASAP.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 August 2013 If grss receipts exceeds Rs.25 lakhs then covere by sec 44AB tax audit is applicable.

it can be firm, ind or pvt ltd co.
it will not change anything as its providing sewrvices.

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