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.
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......
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