Tax Audit

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santhosh (Querist)
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22 April 2011 I need to know turnover limit for tax audit below mentioned services for the financial year 2010-11.

1.Management consulting.
2.Recruitment Services.

ANCHIT

ANCHIT (Expert)
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22 April 2011 sec 44AB OF INCOME TAX ACT 1961 governs tax audit

in case of person carrying on business- if turnover exceeds RS.6000000

in case of person carrying on profession - RS.1500000

your cases i believe Rs.1500000 would be applicable

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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22 April 2011 1. Management consultants - classify under "profession" - threshold limit is Rs.15/- lacs.
2. Recruitment services - classify under "business" - threshold limit is Rs.60/- lacs.

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