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Tax audit to professional

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(Querist)
14 April 2015 Dear Member,
Private Limited Company whose business is providing consultancy on security(Purchase /Sell of Share) is total income is exceed 2500000 is liable to tax audit.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
14 April 2015 The criteria for tax audit is Gross Receipts and not Total Income.
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chetan

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chetan (Querist)
14 April 2015 okay Ty sir,
gross receipts is 2500000 but it"s applicable to Pvt Ltd company??
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
14 April 2015 Tax audit is not applicable as consultancy in share purchase and sales is treated as business income.
(Section 44AA)

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