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Applicability of sec 44ab

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Querist : Anonymous (Querist)
05 January 2013 what is the limit for applicability of tax audit for professionals?

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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
05 January 2013 IN CASE OF A PROFESSIONALS, CRITERIA IS GROSS RECEIPTS IF IT EXCEEDS THE LIMIT MENTIONED HEREUNDER-
TAX AUDIT WILL BE APPLICABLE-
.
AY 2012-13 : Rs.15 lac &
.
AY 2013-14 :Rs. 25 Lac.
.
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Sanket

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Sanket (Expert)
05 January 2013 Applicability......

In case of Profession if the gross receipts exceeds Rs.10 lakhs (increased to Rs. 15 lakhs from the financial year 2010-11 & to 25 lakh from Financial Year 2012-13) in a financial year.
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