TAX AUDIT CRITERIA

for F.Y 2009-10

if partnership firm or propritorship carry business other than profession  then more than 40,00,000.

if partnership firm or propritorship carry profession  then more than 10,00,000

for F.Y 2010-11 limit is increased to 

60,00,000 &15,00,000 respectivaly

Mr Amit is right

AS PER DTC LIMIT IS INCREASED TO RS. 2500000 IN CASE OF PROFESSIONAL AND rS. 1 CRORE IN THA CASE OF BUSINESS

for F.Y 2009-10

every person is liable to have tax audit if

1. carrying on business, if his total turnover, total sales or gross recipts as the case may beexeed  or exeeds to Rs 40 lacs in any previous year.
2. carrying a profession, if gross receipt from prfession exeeds to rs ten lacs in any previous year.

for F.Y 2010-11

 every person is liable to have tax audit if

1. carrying on business, if his total turnover, total sales or gross recipts as the case may be exeed  or exeeds to Rs 60 lacs in any previous year.
2. carrying a profession, if gross receipt from prfession exeeds to rs fifteen lacs in any previous year.

I agree

AGREE WITH AMITH TADKARI

I agree with the posts

yes mr amit is right

Dear all

what if the total turn over is Rs.45 lac in f y 2009-10.

whether tax audit will be compulsory for the f y 2010-11

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