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Audit u/s 44AB

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(Querist)
30 September 2008 I have formed a private limited company providing management consultancy services and other project finance work. My Previous Year Income is Rs 16 Lacs

My query is whether my company will be covered under Professional Category and will be liable for Tax Audit
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
30 September 2008 Management consultancy comes under Profession. Accordingly if the gross receipts exceeds Rs.10 lakhs per annum tax audit is mandatory.
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CA Bosu babu

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CA Bosu babu (Expert)
01 October 2008 yes you will attracts TAX audit u/s.44AB
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CA V. Mohanakrishnan

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CA V. Mohanakrishnan (Expert)
01 October 2008 Management consultancy is a profession and the limit is Rs.10 lacs. There has to be tax audit
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