Section 44AB

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what is the gross receipt limit for tax audit in case of professionals applicable for AY 2017-18?
Replies (4)

5000000/-or more than this amount as  gross receipts  applicable for tax audit 

 

this amendment is w.e.f. 01.04.2017, is this means we have to follow it from AY 2017-18 itself, or from AY 2018-19?
it is applicable w e f 1.4.16
date used in IT Act is Assessment Year. So this is applicable from AY 2017 -18


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