Hello,
One of our Clients Provide Architectural Design Services To its Foreign Parent Company.
It is having turnover of 75 Lakhs, so will Tax audit under 44AB be applicable to it considering as Profession or Limit will be 1 Crore.
Thanks
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44ab limit for outsourcing services
Replies (3)
Should be considered as Professional Income.
By the Way, under what section TDS deducted?
architecture income is considered as professional income as per income tax act
and profession tax audit turnover limit 25 lakhs
so here tax audit applicable
and profession tax audit turnover limit 25 lakhs
so here tax audit applicable
Thanks Dhirajlal and Thirumalai for your Opinions
No TDS Has been Deducted as I had Mentioned that the Company is Providing Outsourcing Services to its Offshore Parent Company.
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