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Changes in Section 44AB

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(Querist)
07 July 2011 Please let me know, whether the changes in section 44AB by finance act 2011 is applicable for the assessment year 2011-2012?
i.e. for the assessment year 2011-2012 Whether the tax audit limit is Rs. 40 lacs or Rs. 60 lacs?
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CA Navin Jain

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CA Navin Jain (Expert)
07 July 2011 yes
for the assessment year 2011-2012 the tax audit limit is Rs. 40 lacs or Rs. 60 lacs
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Elroy Joseph Lewis

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Elroy Joseph Lewis (Querist)
07 July 2011 Sir, Thanks for the reply. Pls let me know whether the limit is 60 Lacs or 40 lacs for the A.Y. 2011-12
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CA Navin Jain

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CA Navin Jain (Expert)
07 July 2011 yes, applicable for the AY 11-12

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