Tax audit limit 44ab --turnover/gross receipts

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NK1976

NK1976 (Querist)
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12 December 2012 What is the Tax Audit Limit U/s. 44AB --Turnover/Gross Receipts in Financial Year 2012-13. Give the Income tax amendment links.

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Mr.Kadam

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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12 December 2012 It is Rs. 1 Crore..

http://law.incometaxindia.gov.in/DIT/FinAct.aspx?page=FINA&TabId=tab_FIN

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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12 December 2012 http://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=ITAC&schT=&csId=a78677c7-9775-4dc2-a546-148e5d5b9583&rdb=sec&yr=a56ea192-3ca8-433a-a515-ed68a062eac7&sec=44&sch=&title=Taxmann - Direct Tax Laws

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CA S Shyamala Devi

CA S Shyamala Devi (Expert)
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12 December 2012 Tax audit limit for the FY 2011-12 was Rs.60 lakhs in case of business and Rs.15 lakhs for profession.From FY 2012-13 onwards the same has been increased to Rs.100 lakhs (Rs.1 crore) for business and to Rs.25 lakhs for Profession.
Check out the same in the following link:-
http://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=FINA&schT=FIN&csId=6753ca9d-2d97-4ab8-9d02-d456086fe03c&&pId=073a37d0-68de-42c8-9fa1-fd6452e19bdf&sch=&title=Taxmann - Direct Tax Laws