06 May 2015
sir, if a person doing job and his income exceeds basic exemption limit. he also earn income from tuitions. he calculate income tuition fee under income from business or profession he claim depreciation under section 32 for residential building @ 5%.the income from business or profession is -ve value. my doubt is he is required to audit under sec-44AB and is required to register business or profession. he run tuitions for tax benefit.
06 May 2015
yes. the audit is required. registrations depend on various other factors. for eg, if the total fees receipt exceeds Rs 9 lakhs, service tax registration is required
CAclubindia
