Tax audit limit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 June 2011
Is it true that enhanced ( Relaxed) tax audit limit of 60 lakh is only for individula & sole proprietors ? or in other words wheter pvt ltd co having turnover more than 40 lakh but less than 60 lakh are liable to tax audit under Income tax audit for FY 2010-11
CA PARAS BAFNA
(Expert)
16 June 2011
The Turnover limit has been raised to Rs. 60.00 lacs from 40.00 lacs. w.e.f. AY 2011-12.
17 June 2011
The increased limit is applicable to all.
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