Tax audit

https://www.simpletaxindia.org/2010/02/tax-audit-limit-44ab-enhanced-40-lakh.html

Originally posted by : Surbhi Garg
	WHAT IS THE LIMIT FOR TAX AUDIT OTHER THAN COMPANIES..??

Dear Surbhi

Limit Enhanced to 60 Lacs From 40 Lacs For All Types of Assessee (Business)

& 15 Lacs to Professionals From 10 Lacs

Ayush sir, 

These amendments are proposed to take effect from 1st April, 2011 . So r these applicable for May 11 attempt ?

Originally posted by : SHALINI
	Ayush sir,  These amendments are proposed to take effect from 1st April, 2011 . So r these applicable for May 11 attempt ?

This Amendments Will Be Applicable From Assessment Year 2011-12.

and In May Attempt Assessment Year 2011-12 is Applicable.

Hence These Amendments are applicable.

Thank you sir for the clarification. 

for tax audit sale of assesse is rs. 60,00,000 or  net profit is 15,00,000  in a financial year.

Dear Nitesh

Your answer is incorrect. Tax audit is applicable as rightly said by Ayush when turnover is more than Rs. 60 lakhs or in case of professional gross receipts exceeds Rs. 15 lakhs from F. Y. 2010 - 11 relevant to A. Y. 2011 - 12 which is applicable to May 2011 exams.

agreed with aditya.

Regards,

Manoj

agree with mr ayush agrawal

Dear Surbhi Garg

TAX AUDIT LIMIT FOR THE PROFESSIONALS ENHANCE FROM 10 TO 15 LACS AND FOR OTHER ENHANCE FROM 40 TO 60 LACS.