Tax Audit
This query is : Resolved
30 September 2010
Dear Sir,
what is Tax Audit & its applicability for firm/company ??
Thanks
Krishna
what is Tax Audit & its applicability for firm/company ??
Thanks
Krishna
Hemu Kapoor
(Expert)
01 October 2010
Refer Sec 44AB OF IT ACT, 1961.....
iF Turnover/Gross Receipts Exceeds
40 LAKHS LIMIT - BUSINESS
15 LAKHS LIMIT - PROFESSION
iF Turnover/Gross Receipts Exceeds
40 LAKHS LIMIT - BUSINESS
15 LAKHS LIMIT - PROFESSION
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CA. Abhishek Sinha
(Expert)
01 October 2010
Hi i want to update data provided by Mr. Hemu that As per latest provisions for Tax Audit of Business Turnover/Gross Receipts should exceed 60 Lakhs.
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