My client is not a chartered account neither he is having any other professional degree but still he is providing tax consultancies and receing income. Now whether the limit of Rs. 1 crore or Rs. 25 lakhs will be applicable to him under section 44AB?
2 Replies
sandeep k. gianchandani
(Practicing Chartered Accountant)
(60 Points)
Replied 01 September 2012
Dear Friend, Sec 44AB specifies limit for the person carrying on the profession and not the person holding any degree or any sort of that thing. So the limit for your assessee would be Rs 25 Lacs
sadashiv Rupchand Gaikwad
(Proprietor)
(521 Points)
Replied 03 September 2012
Tax Consultancy is a Profession
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