A person trade business turnover rs:1.75 crores and profit rs:20 lacs f.y.22-23.
question:
assessess tax audit applicable f.y.22-23
kollipara sundaraiah (B.com) (2923 Points)
21 April 2023
CA Ankith Jain
(Chartered Accountant)
(973 Points)
Replied 22 April 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(161249 Points)
Replied 22 April 2023
If cash transactions (receipt as well as payments) are above 5%, and also if income not declared under presumptive assessment, then tax audit u/s. 44AB IT act, mandatory.
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