TAX AUDIT CRITERIA

Bibhuti Bhusan Das (Financial Analyst) (144 Points)

09 September 2010

Dear All,

Can anybody clear my query.

What are the conditions for eligiblity for tax audit for a partnership farm & proprietorship farm ?

Regards

Bibhuti

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10 Replies

(Guest)

for F.Y 2009-10

if partnership firm or propritorship carry business other than profession then more than 40,00,000.

if partnership firm or propritorship carry profession then more than 10,00,000

for F.Y 2010-11 limit is increased to

60,00,000 &15,00,000 respectivaly

CA Navin Jain (MANAGER (FINANCE & ACCOUNTS)) (11768 Points)
Replied 09 September 2010

Mr Amit is right

AS PER DTC LIMIT IS INCREASED TO RS. 2500000 IN CASE OF PROFESSIONAL AND rS. 1 CRORE IN THA CASE OF BUSINESS

(Guest)

for F.Y 2009-10

every person is liable to have tax audit if

carrying on business, if his total turnover, total sales or gross recipts as the case may beexeed or exeeds to Rs 40 lacs in any previous year.
carrying a profession, if gross receipt from prfession exeeds to rs ten lacs in any previous year.

for F.Y 2010-11

every person is liable to have tax audit if

carrying on business, if his total turnover, total sales or gross recipts as the case may be exeed or exeeds to Rs 60 lacs in any previous year.
carrying a profession, if gross receipt from prfession exeeds to rs fifteen lacs in any previous year.

Ansari (ca final) (444 Points)
Replied 09 September 2010

Originally posted by : AMIT TODKARI
	for F.Y 2009-10 every person is liable to have tax audit if carrying on business, if his total turnover, total sales or gross recipts as the case may beexeed or exeeds to Rs 40 lacs in any previous year. carrying a profession, if gross receipt from prfession exeeds to rs ten lacs in any previous year. for F.Y 2010-11 every person is liable to have tax audit if carrying on business, if his total turnover, total sales or gross recipts as the case may be exeed or exeeds to Rs 60 lacs in any previous year. carrying a profession, if gross receipt from prfession exeeds to rs fifteen lacs in any previous year.