Tax Audit
This query is : Resolved
22 April 2011
I need to know turnover limit for tax audit below mentioned services for the financial year 2010-11.
1.Management consulting.
2.Recruitment Services.
1.Management consulting.
2.Recruitment Services.
22 April 2011
sec 44AB OF INCOME TAX ACT 1961 governs tax audit
in case of person carrying on business- if turnover exceeds RS.6000000
in case of person carrying on profession - RS.1500000
your cases i believe Rs.1500000 would be applicable
in case of person carrying on business- if turnover exceeds RS.6000000
in case of person carrying on profession - RS.1500000
your cases i believe Rs.1500000 would be applicable
22 April 2011
1. Management consultants - classify under "profession" - threshold limit is Rs.15/- lacs.
2. Recruitment services - classify under "business" - threshold limit is Rs.60/- lacs.
2. Recruitment services - classify under "business" - threshold limit is Rs.60/- lacs.
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