sec44AB
This query is : Resolved
07 March 2010
For the purpose of sec 44AB of Income Tax Act, what is the status of a CA Firm(Partnership)-a "Professional" (tax audit limit:15 lakh) OR "Business" (tax audit limit: 60lakh)?
07 March 2010
For A.Y. 2010-2011 the limit would be Rs 10 lakhs whereas for A.Y. 2011-2012 the limit would be Rs 15 Lakhs.
07 March 2010
Mr Ubaid is right its under professional not business
07 March 2010
Dear Hena
Partnership Firm of CA is also providing Professional Services collectively, so Question of Business doesn't arise.
Partnership Firm of CA is also providing Professional Services collectively, so Question of Business doesn't arise.
07 March 2010
status of partnership CA Firm -- Professional (tax audit limit:15 lakh)
07 March 2010
it is professional work so new audit limit 15 lac but for A.Y. 2010-11 it is 10 lac
07 March 2010
Proffesional
07 March 2010
Professionals status
07 March 2010
Pl refer CBDT notification N0. S0-17(E) dated 12/01/1977 and No SO 2675 dated 25/09/1972.
You may also refer CIT vs. Manmohan Das (1966) 59 ITR 699 (SC) to know more about profession/business.
To conclude, the answer is Professon.
You may also refer CIT vs. Manmohan Das (1966) 59 ITR 699 (SC) to know more about profession/business.
To conclude, the answer is Professon.
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