TAX Audit

This query is : Resolved

Sanjay Diwakar (Querist)
Follow

01 July 2010 Dear friends

one of my client having Advertising agency business, their gross income is 13 lakhs...

whether they come under category of business or profession.. so that we can go for TAX AUDIT and file return within 30th September'10...

Thanks in Advance

Regards

Sanjay

Rahul Gupta

Rahul Gupta (Expert)
Follow

01 July 2010 Professional Income’ is income from exercise of any profession or vocation which calls for an intellectual or manual skill. It covers doctor, lawyers, accountants, consulting engineers, artists, musicians, singers etc.

In view of this, Advertsing Agency comes under the category of business and not profession. So my view is that 44AB, can not be imposed.

Experts views are solicited....

Message likes : 1 times