Tax audit required on outsourcing business
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 March 2013
Dear Sir,
My client is in IT outsourcing business. He fetches the work online and the same is done through his employees.
His gross receipt has exceeded Rs. 25 lacs.
Whether he is liable for Tax Audit?
It is a business or profession?
Please guide
Thanks in advance.
My client is in IT outsourcing business. He fetches the work online and the same is done through his employees.
His gross receipt has exceeded Rs. 25 lacs.
Whether he is liable for Tax Audit?
It is a business or profession?
Please guide
Thanks in advance.
20 March 2013
dear...
as per sec 44Ab every professional having its gross receipt more that 25 lac is liable to tax audit
and here professional means a person carrying on specified profession including engineering profession..
therefore it the services provided by your client relates to engineering then limit will be 25 lac otherwise one crore.
as per sec 44Ab every professional having its gross receipt more that 25 lac is liable to tax audit
and here professional means a person carrying on specified profession including engineering profession..
therefore it the services provided by your client relates to engineering then limit will be 25 lac otherwise one crore.
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 March 2013
Dear Sir,
thanks for reply.
The client is in IT outsourcing. They get miscellaneous projects for web-development, programming etc from other countries through sites guru.com etc...
What is your opinion....?
thanks for reply.
The client is in IT outsourcing. They get miscellaneous projects for web-development, programming etc from other countries through sites guru.com etc...
What is your opinion....?
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