sir my freind is LIC Agent & LICHFL Agent and his income is Rs.13,00,000/- for the year 2009-10 whether he has to submit Audit report for filing his income tax returns
sir my freind is LIC Agent & LICHFL Agent and his income is Rs.13,00,000/- for the year 2009-10 whether he has to submit Audit report for filing his income tax returns
LIC agency would not come under the specified profession. Hence, limit of 60 lakhs is applicable instead of INR 15 lakhs for financial year 2010-2011.
Thanks and Regards,
Manoj B. Gavali
CAclubindia
