Applicability of sec 44ab
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 January 2013
what is the limit for applicability of tax audit for professionals?
Pleaswe reply It's urgent
Pleaswe reply It's urgent
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.
.
TAX AUDIT WILL BE APPLICABLE-
.
AY 2012-13 : Rs.15 lac &
.
AY 2013-14 :Rs. 25 Lac.
.
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.
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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