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Coaching centre have profession or business


Ramanuj (Accountant.)     14 March 2015

Ramanuj
Accountant. 
 50 likes  829 points

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Dear All

I want to known that   Tuition fee  cross bussines 30 lacs. Mainly work have Tututor have here from market as quilifyed teacher, provide service to student, who student have preparation of competative as air force, NDA, SSC. SRCS, ETC,   above provide service to known as Bussiness & Profession, Further Tax Audit applicable on 25 lacs Or One Crore.  Please reply as soon as possible. 

Above service have Service tax applicable of not

Thanks in advance!

Thanks & Regards

Ramanuj

 

 

 

Vishal Goel

Vishal Goel (Chartered Accountant)     16 March 2015

Vishal Goel
Chartered Accountant 
 144 likes  1688 points

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Hello,
In my point of view it is considered as professional income it is not business income.
Vishal Goel

Vishal Goel (Chartered Accountant)     16 March 2015

Vishal Goel
Chartered Accountant 
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Yes.  The commercial coaching given to the students to prepare them to prepare for university degree exam is liable for service tax.

Vineet Goyal

Vineet Goyal (Assistant Manager - Finance & Accounts)     16 March 2015

Vineet Goyal
Assistant Manager - Finance & Accounts 
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You income will be considered as professional income only if you are earning as a tutor. But, as you said, you hire tutor from market, then you are running an education business.

Whatever tutors are getting from you is their professional income. But whatever you are receiving from Students that is business income.

 

You are liable to pay service tax as gross receipts are more than INR 10 lakhs.

 

Tax audit is not appliable to your as your gross receipts are less than INR 1 crore.

 

Regards

Vineet

www.financeandtaxhub.blogspot.com

Soham

Soham (Learning )     16 March 2015

Soham
Learning  
 49 likes  534 points

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Agreed with Vineet !!

Ramanuj

Ramanuj (Accountant.)     17 March 2015

Ramanuj
Accountant. 
 50 likes  829 points

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Dear all

Thank for sweet reply, I know that that is bussiness income. Paid to Tutor on  complete Course. which type would be expenses ? this is not salary expenses becouse not relation of employee & employer, I have contact of  Tutor for NDA complete Course  like as  other course.  TDS  is applicable or not. I think TDS is not applicable  becouse Bussines is not cross 1 crore. please reply on urgent basis. I am right or wrong.

Thanks in advance!
 
Thanks & Regards
Ramanuj

 
Vineet Goyal

Vineet Goyal (Assistant Manager - Finance & Accounts)     17 March 2015

Vineet Goyal
Assistant Manager - Finance & Accounts 
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Payment to Tutors will be treated as professional expenses.

TDS is not applicable.

Regards

Vineet


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