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tax audit

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(Querist)
07 September 2009 what is the limit for tax audit for insurance agents is it if the gross receipts exceed 10 lacs or 40 lacs
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seema chouhan

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seema chouhan (Expert)
07 September 2009 if the commision receipt exceed Rs.1o lacs than its come under tax audit & 40 lacs limit is for turnover not for receipt.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
07 September 2009 Rs. 10 lacs limit is for professionals. So i beg to differ and state that the insurance premium should cross Rs. 40 lacs for applicability of tax audit.




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