Taxability of retainership income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 December 2011 One of my prospective client is receiving retainership income fixed per month from outside India. The revenue exceeds Rs.60lacs p.a.
I wanted to know whether retainership can be treated as Professional fees so as to include the case u/s.44AB Professional income limit being Rs.15lacs pa So that my client should carry out the tax audit as well.
Pls revert asap.
Regards,
Dhananjay nirhali
9323226282

CA Navin Jain

CA Navin Jain (Expert)
Follow

09 December 2011 retainership income fro what

Querist : Anonymous

Querist : Anonymous (Querist)

09 December 2011 HE CONSULTS VARIOUS PARTIES ABOUT WHICH PRODUCT TO BE PURCHASED AT WHAT PRICE. PRODUCT LINE IS FROZEN FOOD. THE PRODUCT IS OF A CO. OUTSIDE INDIA WHICH PAYS HIM RETAINERSHIP FIXED PER MONTH.
PLS REVERT

Querist : Anonymous

Querist : Anonymous (Querist)

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
Follow

10 December 2011 THIS IS NOT A SPECIFIED PROFESSION UNDER SECTION 44AA. THE LIMIT OF 60L WILL APPLY

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Vinod Selv

AKCJ INFO

JAYDEEP MITRA

Richa Bajoria

Arun Borad

Subscribe Now

Taxability of retainership income

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA