Section 44AB

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Harishankar Thakur (Querist)
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31 December 2010 Sachin Sir, Thanks for Quick Reply...

But my question is that person acting as recovery agent is either construed as "person carrying on business" or "person carrying on profession"????

in other words what is the definition of word "profession" used for the purpose of Section 44AB?

Thanks and Regard
Chandan

sachin

sachin (Expert)
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31 December 2010 No sorry i am taking my answer back.

I am treating them as commssion agent. And as per circular commision agent are not liable for TAX audit.

So i am interpreting that this recovery agent are not liable for Tax Audit.

But i am keeping this open for other experts also