Tax audit query
This query is : Open
13 February 2017
In Sec 44AB(a), the clause mentions that whenever the sales, turnover or gross receipts 'exceed or exceeds' Rs.2 crore whereas in clause (b),the gross receipts from profession should 'exceed' Rs 50 lakhs.Why is it 'exceed or exceeds' for business and only 'exceed' for profession..Thank you.
Shishir Nayak
(Expert)
13 February 2017
you can have more than one business but can't have two full time profession at same time.
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