wats mini. turnover for single-pro firm for mandatory audit
This query is : Resolved
05 February 2009
Suppose there is a single proprietary consulatancy giving consultancy services related to environmental research. What is the limit of turnover in this case for the firmafter which it must have its books of accounts audited by a CA in India.
05 February 2009
For mandatory audit u/s 44AB of The Income Tax Act,1961,the turnover for the given case is Rs.10 lakhs per annum. I give this answer because the services done by the proprietor is considered as TECHNICAL CONSULTANCY which comes under profession covered u/s 44AA of the said act.
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