15 September 2014
Hi all, Suppose a individual is running commercial coaching classes, under which he himself teaches along with other teachers deployed by him then for tax audit purpose which limit is applicable to him Rs 25,00,000 OR Rs 1,00,00,000 ie he is liable for tax audit on crossing the turnover of Rs 25,00,000 OR Rs 1,00,00,000??
15 September 2014
In my opinion his income from running commercial coaching classes will come under "PGBP" head hence applicable limit shalll be Rs. 1 crore.
CAclubindia
