Audit Limit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 March 2011
What is the exemption limit U/S 44AB i.e what turnover required for buisnessman & for the professional for compulsion of statutory audit in the Budget 2011-12.
Manish Sarawgi
Cost Accountant
Manish Sarawgi
Cost Accountant
08 March 2011
No amendment in section 44AB in the Union Budget 2011-12. Therefore, the limits fixed through Finance Act,2010 is prevailing.
1) For business if turn over exceeds Rs.60/- lacs.
2) For profession if gross receipts exceeds Rs.15/- lacs.
1) For business if turn over exceeds Rs.60/- lacs.
2) For profession if gross receipts exceeds Rs.15/- lacs.
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