Easy Office
Easy Office

audit applicable or not

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(Querist)
03 April 2009 we are comm. agent & as so we receive comm on sale.

(for sale/pur it is 40 lacs for a/c to be audited).

what is the limit for "a/c to be audited" in our case?
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Ravi Sehgal

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Ravi Sehgal (Expert)
03 April 2009 Dear Vijay,
As u are covered under non-specified profession, the limit is:-

If Gross Receipts exceeds 10Lakhs
or
Income from such business exceeds Rs.120000
then audit is applicable.

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