16 July 2008
in case of a asseessee who is a event management company (status) proprietory concern whether tax audit limit should be 40 lakhs turnover or 10 lakhs (receipts)
16 July 2008
In my opinion, the event management may not be classified as a profession. Hence, the assessee with gross receipt of Rs. 40 lacs or more will be required to get his accounts audited U/s 44AB.
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