Hello Everyone!
Thank you so much for taking time to look into my query.
I am a partner in a business and so I have business income. Apart from that, I have freelance professional income (consultant), not related to the business.
Now, my question is :
1. If my business income is 3 Lac and Professional income (service related) is 8 Lac, is service tax applicable on my income, as the Service related income is only 8 Lac (less then 10 Lac limit).
2. If my business income is 30 Thousand (or nil) and Professional income (service related) is 8 Lac and I get 3 Lac interest on my Fixed Deposits in banks, is Service tax applicable on me ... as Service related income is only 8 Lac (less then 10 Lac limit).
Thanks again .. and looking forward to your responses.
Take care,
Shams
CAclubindia
