Can anyone say me abt the tax audit limits for both business and profession for F.Y 2015-16 i.e., A.Y 2016-17 ?
Lishia Sarkar (50 Points)
04 June 2016Can anyone say me abt the tax audit limits for both business and profession for F.Y 2015-16 i.e., A.Y 2016-17 ?
rohit
(Student CA Final )
(117 Points)
Replied 04 June 2016
Business - 1 crore
Profession - 25 lakhs
For AY 16-17
sanjith kotni
(Articled assistant)
(663 Points)
Replied 05 June 2016
No there is small change in finance act 2016.refer it .
sanjith kotni
(Articled assistant)
(663 Points)
Replied 05 June 2016
No there is small change in finance act 2016.refer it .
Ruchi
(CA)
(1410 Points)
Replied 05 June 2016
For AY 15 -16 & 16-17, the limits are 25 lakhs and 100 lakhs for profession and business respectively.
The new limits in finance act 2016 are applicable from AY 17-18 onwards. They are 50 lakhs and 200 lakhs for profession and business respectively.
Sameer Sunil Sawant
(Service)
(44 Points)
Replied 06 June 2016
Its Rs.1 Crore for business
and Rs.25 lakhs for profession
for AY 2016-17
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
