Profession & business

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 August 2013 Hi;
I M working ABC co ltd.
My Employer Deduct the TDS under 194J(Professional or Commission Fees)Total amt of TDS for A/Y 2013-14 Rs.1,00,165.
& 2nd thing is that My Empolyr open a Company BA co ltd on my Name & TDS cut on this COMPANYS is REflected on my 26AS ie Rs.1,74,500
Now my question is that
1) IS It come under Audit?
2) How to file Return?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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24 August 2013 incase professional receipts paid by your employer to you exceeds Rs.25 lakhs then audit u/s.44AB will apply

Need to file the return ITR-4 as professional income

CA PARTH SHAH

CA PARTH SHAH (Expert)
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12 August 2020 Along with the professional service , also check what is the sales of the BA Co Ltd. So even if your professional receipts are less than 25 lakhs, the sales of business might cross threshold limit for audit.

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