The Finance Minister has proposed to limit the Tax Audit limit as follows:-
§ Businesses up to Rs 60 lakh to be exempted from auditing obligations of their accounts.
§ Professionals up to Rs 15 lakh to be exempted from auditing obligations of their accounts.
Source >>> www.forum4finance.com
Vikash Shrivastava
(Chartered Accountant )
(41 Points)
Replied 26 February 2010
This is a major change in recent years.
A not so good news for the practicing members.
CAclubindia
