We are a Medical transcripttion service provider servicing doctors in the US. All our revenue is in USD. From what I understand we fall under "0709 Service Sector [IT. enabled services, BPO service providers]" now while filing tax returns do I file as "Business" or "Professional services" and do I have to get tax audit, if yes what are the turnover limits.
Menu
0709 service sector [it. enabled services, bpo service provi
Replies (1)
If 'WE ARE............." any firm or company....... it will be a business..........
But for individuals, generally......... its profession
Audit limit as per section 44AB...... is 1 lakh for business and 50 thousand for professionals......
Recent Topics :
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
- TDS on rent paid to RNOR Landlord. Can RNOR US tax
- PAN CANCELLATION OF A DISSOLVED PARTNERSHIP FIRM
- Transport agency accounting entry in purchase &
- REGARDING HSN CODE FOR WASHING JOB CHARGES
- Advance Tax Due Date 2026
Related Topics :
CAclubindia
