Income tax query reg tax audit

Business - 1 crore

Profession - 25 lakhs

For AY 16-17

Is it same for AY 2015-16 ?

No there is small change in finance act 2016.refer it .

No there is small change in finance act 2016.refer it .

For AY 15 -16 & 16-17, the limits are 25 lakhs and 100 lakhs for profession and business respectively. 

The new limits in finance act 2016 are applicable from AY 17-18 onwards. They are 50 lakhs and 200 lakhs for profession and business respectively. 

Its Rs.1 Crore for business

and Rs.25 lakhs for profession

for AY 2016-17