Tax audit applicable or not
This query is : Resolved
03 August 2013
Hello All,
Please find scenario
Partner ship firm having business of web developing, application developing having receipts of 25 lacs or more
Work is also done from third party as job work and salary is paid to employees work in office
Qualification of Partner: Graduation in computer application
Whether income is from profession or business?
Please find scenario
Partner ship firm having business of web developing, application developing having receipts of 25 lacs or more
Work is also done from third party as job work and salary is paid to employees work in office
Qualification of Partner: Graduation in computer application
Whether income is from profession or business?
03 August 2013
Income is from business and hence tax audit is not applicable as the limit of 100 lakhs is not crossed........
03 August 2013
if the firm is providing services only by developing the above as per clients requirements and direction then it will be service.
If they are developing and selling in canned packages then it will be income from business.
For service the tax audit limit of Rs25 lacs.
If they are developing and selling in canned packages then it will be income from business.
For service the tax audit limit of Rs25 lacs.
03 August 2013
Mr.tushar i think the limit of 25lacs is for professional services only.....
03 August 2013
CA Parul Saxena pls refer my ans i have written for service given as professional only i meant.
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