05 March 2011
i want to confirm maximum limit of turnover for tax audit for assessment year 11-12. if a client turnover is approxi 5200000 will be applicable for tax audit in this year or not.
For the A yr 11-12 , the limits for Tax Audit is Rs 60 Lacs. Futher if the Assessee is offering Lesser than the Prescribed %ages given under Presumtive Taxations sections like 44AD etc, the Tax audit is Applicable regardless of the Turn over ( if with in Rs.60 Lacs)
Read the Sections please.
Regards CA. LOHITH. J B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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