22 September 2009
Hello, My client is a Model and Dress Designer. In the financial Year 2008-2009, she has received receipts from profession amounting to about Rs. 19 lakhs. My question is that is she required to get a Tax Audit done u/s 44AB. Request you to please answer my query urgently.
Further to the above query, can the client show her income as a business of dress designing. In that case can she come out of the provisions of tax Audit as her receipts are below 40 lakhs
22 September 2009
I agree with the views of Expert. Its liable for tax audit. Further to your quesry, If your client is purchasing material and then selling it by modifyinf it or designing it, then you can treat it as business. But if it is in the nature of job work only, then better is show it as professional income.
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