Urgent help-Tax Audit Limit

hi vikas

the tax audit limit has been increased w.e.f. 1-4-10.. for business it is 60 lacs.. and for profession it is 15 lacs.. i think the mention case fall in profession..so limit would b 15 lacs..

any of.. total sales, turnover or gross receipts..

Dear Vikas

in my view your client case falls in 40 lakh limit for financial year ending 31 march 2010 as your client is selling software which is good or article though it is intangible. your client is selling software not providing services that is why it does not falls for professional limit of 15 lakh.

thanks

Originally posted by : kapil
	hi vikas the tax audit limit has been increased w.e.f. 1-4-10.. for business it is 60 lacs.. and for profession it is 15 lacs.. i think the mention case fall in profession..so limit would b 15 lacs..

I forgot to write that m talking abt F.Y. 2009-10...& Thanx...

i think above case under limit of Rs 40 lacks because he is developing an softwere & sale which as good as manufacure of any article & sale or purchase of any goods & sale it , he is not providing any service to any body , he is doing a trading

there is no professional service here... its pure case of trade.. 40 lakh is the limit.

the change of limit applies w.e.f 01-04-2010 or 01-04-2011.i think its from 01-04-2011.hence for f/y 2009-10  it is 40/10 lacs??????????

there is no professional service in this case . hense the limit will be 40lakh for AY 2010-11

hi,,

the limit would be 60 lakhs because the client is developing softwares. even we have the same industry client and the said receipts are treated as sales and therefore the limit is 60 lakhs

For Assessment Year 2010-11   

   BUSINESS     -  ABOVE 40 lAKHS TURNOVER

  PROFESSION-        ABOVE 10LAKHS

it's 60 lacs for f.y. 2010 - 2011

F.Y. 2010-11 tax audit limit is 60 lcas Rs. is it correct ? reply me ?