My client is not a chartered account neither he is having any other professional degree but still he is providing tax consultancies and receing income. Now whether the limit of Rs. 1 crore or Rs. 25 lakhs will be applicable to him under section 44AB?
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Professional income to a non professional
Replies (2)
Dear Friend, Sec 44AB specifies limit for the person carrying on the profession and not the person holding any degree or any sort of that thing. So the limit for your assessee would be Rs 25 Lacs
Tax Consultancy is a Profession
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