tax audit or vat audit
This query is : Resolved
14 June 2011
dear sir my self jainendra sharma. i am student of law and also appeared in ICSI executive course.
sir i want know that what is the limite of tax audit Or vat audit ?
sir i want know that what is the limite of tax audit Or vat audit ?
14 June 2011
Tax audit limit as per section 44AB of the Income tax act,1961 is Rs. 60 lacs for business and Rs.15 lacs for profession. VAT audit limit varies from state to state, In Kerala it is Rs.40 lacs per annum.
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