Brokarage or Commission
This query is : Resolved
07 August 2010
Is it necessary to audit the books of account U/S 44AB of income tax Act., in the case of Brokarage or commission exceeds Rs. 40 lakhs for the A.Y. 2010-11.
07 August 2010
Yes Tax Audit is compulsory.
07 August 2010
Yes audit u/s 44AB required as turnover exceeds Rs. 40 lakhs during the year.
From next year turnover limit Rs. 60 lakhs.
From next year turnover limit Rs. 60 lakhs.
07 August 2010
Yes, its mandatory in the given case.
07 August 2010
agreed, if current year exceeds rs.40 lacs t.o audit compulsory. but next yes it may be bcs limit is going to be rs.60 lacs.
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