Tax audit limit for drawing & design service provider
This query is : Resolved
24 December 2011
We have a partner ship firm & providing services of Drawing & Design services to in Engineering sector. We have crossed Gross sales/Service Receipt 15 Lac.
Please advice us, what is the receipts/sales limit for Tax Audit U/S 44AB.
AYAJ
Please advice us, what is the receipts/sales limit for Tax Audit U/S 44AB.
AYAJ
25 December 2011
Section 194J
Explanation.—For the purposes of this section,—
(a) “professional services” means services rendered by a person in the course of carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or advertising or such other profession as is notified61 by the Board for the purposes of section 44AA or of this section;
Conclusion:-
If you fall in any one of the above profession you are liable for tax audit if gross receipts exceeds 15 lacs.
I think you are rendering professional services.
Explanation.—For the purposes of this section,—
(a) “professional services” means services rendered by a person in the course of carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or advertising or such other profession as is notified61 by the Board for the purposes of section 44AA or of this section;
Conclusion:-
If you fall in any one of the above profession you are liable for tax audit if gross receipts exceeds 15 lacs.
I think you are rendering professional services.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
