Ramanuj (Accountant.) 14 March 2015
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
Vineet Goyal (Assistant Manager - Finance & Accounts) 16 March 2015
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.
Ramanuj (Accountant.) 17 March 2015
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.