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Tax audit

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04 April 2012 Whether Limit for Tax Audit has been revised??? is it 1 crore now and for professinal is it 25 lakhs
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
04 April 2012 Budget 2012 has amended Section 44AB and accordingly the threshold limit is Rs. 1 crore for assessees carrying on busines and Rs. 25 lakhs for professionals.

This is applicable from AY 13-14.
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