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194 h audit limit

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Querist : Anonymous

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Querist : Anonymous (Querist)
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
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Amol Gopal Kabra (CA,CS,DISA)

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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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