banner_ad

Audit of coaching institurtion

Others 424 views 1 replies
The assessee is running a Coaching Institution and he is the Director of it. The fee receipts of the institution for FY 15-16 is approx. Rs.36 Lacs. My doubt is whether he is liable for Tax Audit u/s 44AB considering the income as his professional income or this would be his business income? Thanks
Replies (1)

In the publication of the Fiscal Laws Committee of the ICAI,titled "Issues on Tax Audit",it has been opined as follows :-

(a) Educational institution run by a person who does not possess any professional qualification will fall in the category of business.(b)Coaching classes run by a chartered accountant or a person possessing professional qualifications will fall in the category of profession.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details