Taxability of retainership income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 December 2011 One of my prospective client is receiving retainership income fixed per month from outside India. The revenue exceeds Rs.60lacs p.a.
I wanted to know whether retainership can be treated as Professional fees so as to include the case u/s.44AB Professional income limit being Rs.15lacs pa So that my client should carry out the tax audit as well.
Pls revert asap.
Regards,
Dhananjay nirhali
9323226282

CA Navin Jain

CA Navin Jain (Expert)
Follow

09 December 2011 retainership income fro what

Querist : Anonymous

Querist : Anonymous (Querist)

09 December 2011 HE CONSULTS VARIOUS PARTIES ABOUT WHICH PRODUCT TO BE PURCHASED AT WHAT PRICE. PRODUCT LINE IS FROZEN FOOD. THE PRODUCT IS OF A CO. OUTSIDE INDIA WHICH PAYS HIM RETAINERSHIP FIXED PER MONTH.
PLS REVERT

Upgrade to CAclubindia Pro. Subscribe Now!

Querist : Anonymous

Querist : Anonymous (Querist)