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Tax Audit Limit

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(Querist)
21 October 2008 What is the logic or reason behind the TAx Audit limit for Professional is kept at Rs. 10 Lacs and others for Rs.40 Lacs.

please give me the satisfactory answer
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CMA Jitendra Singh

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CMA Jitendra Singh (Expert)
21 October 2008 The logic is general gross profit level beyond which everybody should examined his books of accounts
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
21 October 2008 In the case of business income it is inclusive of material cost as well.



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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 October 2008 Just a bench rule nothing else.
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CA Chetan Patel

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CA Chetan Patel (Querist)
22 October 2008 still i am not satisfied with the comments
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Deepak Agrawal

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Deepak Agrawal (Expert)
12 November 2008 It IT Dept logic
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