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Ketan Lathia (CA Practice )     12 October 2016

Urgent-tax audit

A company providing only management consultation services (no other income), what will be the limit for tax audit 25L or 1cr. ??


 3 Replies

CA Srujann kumar Reddy

CA Srujann kumar Reddy (Asst Manager(Internal audit))     12 October 2016

management consultancy is a professional service and 25 lacs will be applicable
Vineet Goyal

Vineet Goyal (Assistant Manager - Finance & Accounts)     13 October 2016

Agree with Reddy. It is a professional service.

MANENDRA KUMAR KANDULA

MANENDRA KUMAR KANDULA (Student)     19 December 2016

Please go through the following link (hope useful) - 

https://taxworry.com/answers/what-is-the-definition-of-profession-us-44ab-of-the-income-tax-act1961-is-every-consultant-receiving-consultancy-income-of-25-lakhs-or-more-liable-for-tax-audit/


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