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confusion
In finance bill 2010 audit limit has been increased to 60lacs , but w.e.f AY-2011-12 is this meant that limit is increased from 01-04-2010 or 01-04-2011 ?
Also if any amendment is for AY 2010-11 then is this effect Previous year 2009-10 as on which Finance act 2009 is applicable
Replies (3)
Dear satish
it means that the Audit of the FY 2009-10 will be done with the previous audit limit i.e. 40 laks & 10 laks
& from the next f.y the audit limit will be the new one as per the bill
i.e. fy 2010-11 will be audited with the new clauses
Agree with pradeep....
Its a FINANCE BILL so has to become FINANCE ACT for application..
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