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Tax Audit

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(Querist)
30 September 2010 Dear Sir,

what is Tax Audit & its applicability for firm/company ??

Thanks
Krishna
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Hemu Kapoor

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Hemu Kapoor (Expert)
01 October 2010 Refer Sec 44AB OF IT ACT, 1961.....
iF Turnover/Gross Receipts Exceeds
40 LAKHS LIMIT - BUSINESS
15 LAKHS LIMIT - PROFESSION
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CA. Abhishek Sinha

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CA. Abhishek Sinha (Expert)
01 October 2010 Hi i want to update data provided by Mr. Hemu that As per latest provisions for Tax Audit of Business Turnover/Gross Receipts should exceed 60 Lakhs.
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