A merchant navy captain is earning 5 lakhs a month, annually 10months * 5L = 50L (on leave for 2 months a year)
Is he subject to tax audit?
Is his job covered under profession?
thanks
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Tax audit applicability
Replies (3)
What is the nature of services rendered by him?
he is employed with a shipping company and works on a ship that travels worldwide and carries crude oil.
If he is in employment, then there is no question of Tax Audit Applicability, as Tax Audit is applicable only to an assessee who carries on Business/Profession. Since you have said that he is employed, his income can't be considered as professional income.
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