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Urgent !!! (interest received from outside universities)
Interest received from outside universities (in case of immigration business) whether it will be covered in 1 crore limit (person carrying on business) or 25 lakhs limit(person carrying on profession)under section 44AB of Income Tax Act, please advice urgent
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If such interest is incidental to business of assessee or is recurring in nature, then such receipts should be considered in calculating limits laid down u/s 44AB.
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