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tax audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 August 2013 If a person is doing coaching in sports e.g Tennis to children is it considered as profession or business. ( His gross receipts exceeds Rs. 25 lacs for the year 12-13 )
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
29 August 2013 Sports persons and coaches and Trainers are professional nature, so limit is Rs.25 lakhs for tax audit applicability for AY-2013-14

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