Hi friends,
For the purpose of doing audit what are the limit for professional receipt
my client is receivng 25 lacs of professional fees
so he has to go for audit or not please its urgent
reply
7 Replies
Sumit Grover
(Chartered Accountant )
(3652 Points)
Replied 28 September 2011
agreed wid above except d fact dat the limit is now 15L.....
Suraj Agarwal
(Self Practitioner in Income Tax & GST)
(782 Points)
Replied 28 September 2011
Yes, limit is 15 lacs............ so audit is compulsory on ur case.
NAVEEN GARG
(CA-FINAL)
(104 Points)
Replied 28 September 2011
I am Agreed with SUMIT & SURAJ. Limit has been changed from the A.Y. 2011-12.
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