Menu
Is it profession & business
Replies (2)
The said business come under rendering of services and thus they are charged under income from Proffesion and not business. Apart form this he is not liable for tax audits since the limits form AY 2012-13 is 25 laks.
Check for service tax aplicabilty also since he has crossed 10 lakhs..
Basis for my decision = the word chartered is used as a person who possess specialised skills in a particular area. He thus becomes a proffessional.
Agreed with Karan....
Recent Threads
- Import of goods IMS telated
- ITR 6 submitting Problem
- Partnership Firm Closure Process
- Why the Costing Department Is Important ?
- Difference in efiling portal and intimation order
- Income tax challan correction
- AGM WITH SHORTER NOTICE
- 15CA/15CB Bulk Filing Automation Tool – Need
- GSTR 9 FY 2023-24 LATE FEE
- Should we go under Section 59 of IBC or Section 27
Related Threads
CAclubindia
