Turnover as per Section 44AB

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J ASHOK KUMAR (Querist)
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11 September 2010 There is a Doctor running a Hospital as a Proprietory Concern. What is the turnover to be considered for Tax Audit purposes, whether it is 10 Lakhs or 40 Lakhs. Whether to treat the same as Profession or Business. Pl clarify me at the earliest.

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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11 September 2010 Dear Ashok,
Because this hospital is running under Proprietory concern means income of the same will be disclosed in the ITR of the doctor, therefore as per my understanding this should be fall under Professional Ceiling and limit of tax audit would be Rs. 10 Lakhs(Section 44).

However, let the other experts show their view.

Regards!!!
Dinesh S. Adhikari

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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11 September 2010 Quote from page 24 of ICAI Publication viz., Issues on Tax Audit.
"If the nursing home is run by medical practitioner's who are also carrying their medical practice at that place it is possible to argue that the assessee is carrying on profession".

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