Audit limit for business income for the f y 2012-2013
This query is : Resolved
19 March 2012
It is being said for sme audit limit raised from 60 lakhs to 1 crore.
Is it for all people doing business or only for people or company which file return as company in SME.
I am confused. because on some sites like moneycontrol it states specified business and for professionals its made 25 lakhs.
Is it for all people doing business or only for people or company which file return as company in SME.
I am confused. because on some sites like moneycontrol it states specified business and for professionals its made 25 lakhs.
25 March 2012
The limit has been raised only for SME's as defined in the SME Act.
26 March 2012
Sir can i get the link for that act.I am unable to find out that on net.
28 March 2012
https://icai.org/new_post.html?post_id=8245&c_id=240
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