31 August 2011
A Firm in F.Y. 2009-10 is having Tax Audit. In F.Y. 2010-11, the same firm is not falling in Tax Audit perview as the limit is increased from Rs. 40 lacs to Rs. 60 lacs.
In F.Y. 2011-12 the same firm is paying salary of Rs. 5 lacs to one employee & also paying interest of Rs. 5 lacs to an individual.
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