Limit of income tax audit in new budget
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 March 2016
SIR IT 1 CRORES OR 2 CORES & APPLICABLE FROM WHICH F.Y.
01 March 2016
Will be applicable from FY 2016-17 i.e., AY 2017-18.
Amol S Joglekar
(Expert)
01 March 2016
We need to wait till the budget gets signed by the President. It is proposed that the limit for section 44AD be raised to 2 crore.
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