CA CMA CS VIRAG SHAH (9773395720) (759 Points)
14 September 2011
HELLO ,
WHAT IS THE FEES TO BE CHAREGED FOR TAX AUDIT IN MUMBAI FOR HUF WHOSE TURNOVER AROUND OF RUPPES 55,00,000.
WORK IS COMPLETED IN TWO DAYS.
THANKS TO EVERYONE.
Rajagopalakrishnan R
(PARTNER)
(1422 Points)
Replied 15 September 2011
Dear Virag
Fees charged from a client is a subject matter of the following factors.
1. Professional resources and skill spent on the assignment ( you will appreciate that time spent by you and your articled clerk cannot be equated)
2. Professional time spent on the assignment ( Lesser time spent does not necessarily mean lower fees as there is a premium on "knowing what to do"
3. Your agreement with the client before staring the assignment if any
4. Long term relationship with the client
and Finally and most importantly
THE ABILITY AND INTENTION OF THE CLIENT TO PAY. ( u may give a decent bill which he may agree to but generally disappear from your life :-))
Hope things are clear
CA Ameya Anil Kulkarni
(9820430059)
(75 Points)
Replied 15 September 2011
Sir
Further for business the Tax Audit limit has been increased to Rs. 60 Lacs. So for turnover of Rs. 55 Lacs Tax Audit will not be applicable.
Correct me if I am wrong.
Rajagopalakrishnan R
(PARTNER)
(1422 Points)
Replied 15 September 2011
That is correct. But that shouldnt stop anyone from collecting a proper fees for the finacial statements and return filed i s'ppose :--))
CA Ameya Anil Kulkarni
(9820430059)
(75 Points)
Replied 15 September 2011
Rajgopalji 100% Agreed with your reply. We should charge the Fees according to our Profession. :)
But i was just trying to clear basics about applicability of Tax Audit which was mentioned in the query by CA Virag.
Thanks.
CA CMA CS VIRAG SHAH
(9773395720)
(759 Points)
Replied 15 September 2011
CAclubindia
