Tax Audit limit for Works Contract Charges

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MANISH (Querist)
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16 August 2009 What is the amount for which works contract charges received will be liable for Tax Audit U/s.44AB?

Bhaskaran Chackrapani Warrier (Expert)
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16 August 2009 If either the bill amount or the advances received exceeds Rs 40 lakhs section 44 AB attracts.

CMA Arif Farooqui (Expert)
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16 August 2009 40 lakhs

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