turnover limit for realty developers
This query is : Resolved
Hardik Shah
(Querist)
24 January 2011
is there a same turnover limit applicable for audit of real estate company which is applicable for other businesses? Because a single house can be sold @ more than rs.60 lac so there should be applicability of audit of accounts? pls. reply
Aditya Maheshwari
(Expert)
24 January 2011
Yes the same limit applies.
Also see this link
https://www.caclubindia.com/forum/tax-audit-real-estate-85690.asp
Also see this link
https://www.caclubindia.com/forum/tax-audit-real-estate-85690.asp
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Hardik Shah
(Querist)
26 January 2011
thank you sir for your prompt reply and could you give me the solution for my other query regarding service tax applicability turnover limits of the concern new engaging in the stockbroking business? and if yes hw it's t.o. is calculated?
Aditya Maheshwari
(Expert)
27 January 2011
stockbroking business - Turnover for ST is brokerage earned. If exceeds Rs. 10 lakhs then service tax applicable.
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