Please resolve my Query- Event Management Co. (Proprietorship Concern) is Profession or Business ( Not having any digree or diploma or qualification for event management) and its limit for tax audit U/s 44AB- 15 lacs or 60 lacs.When Event Management Co. have a service tax no. & pay service tax properly. Your answer is diffirent, If event management Co.is Pvt.Ltd.Co. or Partnership Firm.
EVENT MANAGMENT IS NOT A BUSINESS. ITS A SERVICE SO IT WILL FALL UNDER PROFESSION AND SO TAX AUDIT LIMIT WILL BE 25 LAKHS (AS PER BUDGET 2012). MOREVER THE ANS REMAINS THE SAME EVEN IF THE EVENT MANAGMENT IS DONE BY PVT LTD COMPANY OR PARTNERSHIP FIRM.
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