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Basic Exemption Limit of 10 lacs

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 March 2010 Person is providing vocational training
it has become taxable from 27-02-2010

the person has Gross recipt for the financial year 2009-2010 above 10 lacs

but gross reciept for the period 27-02-2010 till 31-03-2010 is just 2 lacs

whether he will be eligible for exemption of 10lacs in current and 2010-11 year?
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CA. RAJESH Kr. MAURYA

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CA. RAJESH Kr. MAURYA (Expert)
01 April 2010 Once you have crossed the threshold limit, then you become liable to service tax, irrespective of gross receipts in next years.
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CA. Kishore Choudhary

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CA. Kishore Choudhary (Expert)
03 April 2010 agreed
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
03 April 2010 100% agree

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