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Urgent-tax audit
A company providing only management consultation services (no other income), what will be the limit for tax audit 25L or 1cr. ??
Replies (3)
management consultancy is a professional service and 25 lacs will be applicable
Agree with Reddy. It is a professional service.
Please go through the following link (hope useful) -
https://taxworry.com/answers/what-is-the-definition-of-profession-us-44ab-of-the-income-tax-act1961-is-every-consultant-receiving-consultancy-income-of-25-lakhs-or-more-liable-for-tax-audit/
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