Query..?
This query is : Resolved
19 July 2014
Dear Expert,
An individual carries on two type of business :-
1. House Keeping Services
2. General Stores (Stationaries)
I have the queries :-
1. Do i have to treat it as Business & Profession separately ?
2. For calculating Turnover for Tax Audit purpose..do i have to club both the businesses turnover ?
3. What type of Service is House-Keeping Services ?
Pls Reply !!!
An individual carries on two type of business :-
1. House Keeping Services
2. General Stores (Stationaries)
I have the queries :-
1. Do i have to treat it as Business & Profession separately ?
2. For calculating Turnover for Tax Audit purpose..do i have to club both the businesses turnover ?
3. What type of Service is House-Keeping Services ?
Pls Reply !!!
20 July 2014
THERE IS NO PROFESSION. BOTH ARE BUSINESS.
FOR AUDIT UNDER SECTION 44AB TURNOVER OF ALL BUSINESS HAS TO BE CLUBBED TOGETHER.
IT IS NOT A SERVICE BUT A BUSINESS.
PLEASE NOTE DOCTOR IS A PROFESSIONAL BUT NURSING HOME IS A BUSINESS.
FOR AUDIT UNDER SECTION 44AB TURNOVER OF ALL BUSINESS HAS TO BE CLUBBED TOGETHER.
IT IS NOT A SERVICE BUT A BUSINESS.
PLEASE NOTE DOCTOR IS A PROFESSIONAL BUT NURSING HOME IS A BUSINESS.
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