Tax audit to professional
This query is : Resolved
14 April 2015
Dear Member,
Private Limited Company whose business is providing consultancy on security(Purchase /Sell of Share) is total income is exceed 2500000 is liable to tax audit.
Private Limited Company whose business is providing consultancy on security(Purchase /Sell of Share) is total income is exceed 2500000 is liable to tax audit.
CA PARAS BAFNA
(Expert)
14 April 2015
The criteria for tax audit is Gross Receipts and not Total Income.
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Message likes :
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14 April 2015
okay Ty sir,
gross receipts is 2500000 but it"s applicable to Pvt Ltd company??
gross receipts is 2500000 but it"s applicable to Pvt Ltd company??
CA PARAS BAFNA
(Expert)
14 April 2015
Tax audit is not applicable as consultancy in share purchase and sales is treated as business income.
(Section 44AA)
(Section 44AA)
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