In case Tds is decducted under sec 194 J (professional/technicals ervices) then whether audit should happen when turnover reached 15 lalks (as applicable for professionals) or when reached 60 lakhs.
1 Replies
Sonam Bidasaria
(CA)
(770 Points)
Replied 02 April 2012
Whether the only source of his income is consultancy charges? If yes, then audit will be done once gross receipts exceeds Rs. 15 lacs.
However, these limits have been increased to Rs. 25 lacs and Rs. 100 lacs for profession and buisness respectively after the presentation of Union Budget 2012. And this limit is applicale to Asst Year 2012-13 also.
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