audit applicable or not
This query is : Resolved
03 April 2009
we are comm. agent & as so we receive comm on sale.
(for sale/pur it is 40 lacs for a/c to be audited).
what is the limit for "a/c to be audited" in our case?
(for sale/pur it is 40 lacs for a/c to be audited).
what is the limit for "a/c to be audited" in our case?
03 April 2009
Dear Vijay,
As u are covered under non-specified profession, the limit is:-
If Gross Receipts exceeds 10Lakhs
or
Income from such business exceeds Rs.120000
then audit is applicable.
As u are covered under non-specified profession, the limit is:-
If Gross Receipts exceeds 10Lakhs
or
Income from such business exceeds Rs.120000
then audit is applicable.
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