I READ IN THE NEWS PAPER THAT THE GOVT. HAS INCREASED THE LIMIT FOR SMALL SERVICE PROVIDER TO RS. 50 LACS INSTEAD OF THE 10 LACS LIMIT. IS IT CORRECT AS I DIDN'T GET ANY SUCH THING IN THE COPY OF BUDGET I GOT.
IF AT ALL THIS IS TRUE, HOW IS TO DECIDE THE STATUS OF A SERVICE PROVIDER WHETHER IN THE PREVIOUS YR , HE IS AN SSP OR NOT. ITS 'COZ FOR AN ASSESSEE TO CHECK WHETHER HE IS AN SSP OR NOT, WE NEED TO CHECK THE SAME WITH THE PREV YR I.E. WETHER ONE IS AN SSP IN THE PREECEEDING YR OR NOT. BT IN CASE A FIRM HAS A TURNOVER OF 30 LACS IN THE PREECEEDING YRS N HE IS NOT AN SSP BEFORE. N NOW IF THE LIMIT IS TO B INCREASED TO 50 LACS , WHETHER HE WILL B AN SSP IN THE PREV YR OR NOT..
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