sir my freind is LIC Agent & LICHFL Agent and his income is Rs.13,00,000/- for the year 2009-10 whether he has to submit Audit report for filing his income tax returns
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specified professional
Replies (1)
LIC agency would not come under the specified profession. Hence, limit of 60 lakhs is applicable instead of INR 15 lakhs for financial year 2010-2011.
Thanks and Regards,
Manoj B. Gavali
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