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investment consultancy services

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 August 2010 when is tax audit applicable for investment consultancy services ? is it brokarage/commission received above 10 lakhs as professional income or 40 lakhs brokarage/commission as the business income ?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
04 August 2010 brokarage/commission is normal income from business and not profession.

So limit of Rs. 40 lakhs applicable.

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