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Turnover Limits for Audit U/S 44 AB

nandha (Finance Executive) (53 Points)

25 June 2010

Hi Gurus,

Kindly confirm what is the Total Turnover amount applicable(Latest in 2010 ) to conduct Audit for Individual and Others.Kindly enlighten me whether the Turnover includes VAT or Service Tax?????

Nandha

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7 Replies

Vijay gandhi (consultant) (567 Points)
Replied 25 June 2010

hiii dear,

d limit is 60 lac u/s 44ab

it excludes service tax n vat if it is charged seperately.....

n normally vat n ST is charged seperately....;)

Kashyap Joshi (Proprietor ) (260 Points)
Replied 25 June 2010

Its 40 lacs (aggregate turnove) for business and 10 lacs for individuals.

Vijay gandhi (consultant) (567 Points)
Replied 26 June 2010

my dear frnd d limit is nw increase to 15 lacs for individual,,,,,

n Rs. 60 lac fr businessman...

i mad sm mistake in last posting.....

dost konsi dunia me ho......b update

Ruchi (CA) (277 Points)
Replied 26 June 2010

According to me Limit of 60lac is applicable from Previous Year 2010-11....

CA kanhaiya kumar (CA PASSED IN NOV.11 EXAM) (197 Points)
Replied 30 June 2010

my dear now limit is 40 lacs for the a/y 2010-11. it is Inhance form 40 lacs to 60 lacs and 10 Lacs to 15 Lacs from a/y 2011-12 f/y-2010-2011 ok

Vijay gandhi (consultant) (567 Points)
Replied 01 July 2010

@ Ruchi and @ kanhaiya.....my dear dosto nw FY 2010-11 is goin on.... so its correct....

n @ kanhaiya nw limit is 60 and 15 lacs.......bcz its

CA Ravish Trivedi (The Possibilities are Infinite...) (772 Points)
Replied 07 July 2010

Dear All, Limit is raised from AY 2011-12 onwards and this is not applicable for Nov 10 Exam . Institute has published the notification in this regard dtd. 05.07.2010.