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Tax audit limit

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 June 2011 Is it true that enhanced ( Relaxed) tax audit limit of 60 lakh is only for individula & sole proprietors ? or in other words wheter pvt ltd co having turnover more than 40 lakh but less than 60 lakh are liable to tax audit under Income tax audit for FY 2010-11
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
16 June 2011 The Turnover limit has been raised to Rs. 60.00 lacs from 40.00 lacs. w.e.f. AY 2011-12.
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CA KRISHNA KUMAR DARUKA

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CA KRISHNA KUMAR DARUKA (Expert)
17 June 2011 The increased limit is applicable to all.
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