confusion

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Professional
165 Points Joined September 2008
In finance bill 2010 audit limit has been increased to 60lacs , but w.e.f AY-2011-12 is this meant that limit is increased from 01-04-2010 or 01-04-2011 ? Also if any amendment is for AY 2010-11 then is this effect Previous year 2009-10 as on which Finance act 2009 is applicable
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On 14 March 2010 at 10:10 Report
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student
114 Points Joined January 2009

Dear satish

 

it means that the Audit of the FY 2009-10 will be done with the previous audit limit i.e. 40 laks & 10 laks

& from the next f.y the audit limit will be the new one as per the bill

i.e. fy 2010-11 will be audited with the new clauses

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On 14 March 2010 at 15:17
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CS Final
1049 Points Joined September 2009
Agree with pradeep....
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On 14 March 2010 at 19:22
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AUDITOR
854 Points Joined August 2009

Its a FINANCE BILL so has to become FINANCE ACT for application..

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On 15 March 2010 at 10:31


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