The Reader

 

Dear Friends

 

This budget is only road map for DTC so be prepare for next budget, the limit may be increase to 1 Crore & 25 Lakhs.

 

It is good as now we have a cream cases under Audit. Only thing we need to do is increase Tax Audit Fees. Tax Audit Limit increase to 60 Lakhs from 40 Lakhs means 50% increase, so pl call your local association meeting and increase Tax Audit Fees by minimum 50%.

 

I hope this increase will benefits us more as only 5-10% of our cases are below 60 lakhs limit and that to only in books otherwise there turnover is above this limit. Even in recent circular RBI also change the calculation method for cash credit limit it is now 25% of Turnover so ask your client to show more sale in books.

 

So ultimately same no. of client X Increase in Fees Rate by min 50% = Total Revenue increase......

 

So thanks Finance Minister for same..... but dont forget to call local association meeting to increase the tax audit fees.....

Regards

CA.VIJAY R KALANI
M.Com, ACA, LCS, ICWAI (FINAL)

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