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194 h audit limit (Audit)

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This query is : Resolved

Author : Anonymous

( Author )
13 May 2012

WHAT D AUDIT LIMIT FOR 194H COMMISION.....HOW MUCH EXPENSES HE CAN CLAIM AGAINST HIS COMMISION..WHTS D MAX LIMIT...? PLZ REPLY SOON...TNX IN ADVANCE


Amol Gopal Kabra (CA,CS,DISA)

( Expert )
15 May 2012

The Audit Limit for commission income is Rs.60 lakhs. The expenses he can claim is the actual expenses incurred for the business. Section 44AD is not applicable for this business. So it should be shown on actual basis even if the turnover is below 60 lakhs.



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