TAX Audit limit

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Querist : Anonymous

Querist : Anonymous (Querist)

13 May 2011 Dear sir

What is the turnover limit u/s 44AB for Tax Audit for Survey and Map Making service.

Thank You

CA. Naveen Bhat

CA. Naveen Bhat (Expert)
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13 May 2011 for business income it is Rs. 60 lakhs and for professional income it is Rs. 15 lakhs

Nayan Das

Nayan Das (Expert)
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13 May 2011 Tax Audit for Survey and Map Making service is professional service Rs.15 lakhs turnover limit u/s 44AB .

Nayan Das

Nayan Das (Expert)
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13 May 2011 Tax Audit for Survey and Map Making service is proffessional service Rs.15 lakhs turnover limit u/s 44AB .

Querist : Anonymous

Querist : Anonymous (Querist)

14 May 2011
1. What is the definition of Profession for the purpose of section 44AB of the Income Tax Act ?

2. What if technically unqualified persons forms a partnership firm to render Survey and Map Making services and Gross receipt exceeds Rs 15 lakhs ? Does the books of accounts need to be compulsoryly audited u/s 44AB ?

3. What if doctors forms a partnership firm to run a hospital and gross receipts exceeds Rs 15 lakhs ? Does the books of accounts need to be compulsoryly audited u/s 44AB ?

Nayan Das

Nayan Das (Expert)
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16 May 2011 paetner ship firm exmp audit firm is a professional service.

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2011 " paetner ship firm exmp audit firm is a professional service. " - what do you mean by that ? Please explain ?

Nayan Das

Nayan Das (Expert)
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16 May 2011 who will job the profession not related to trading business i.e. auditors, profession on an accountant, paintors,

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