Audit of Company
This query is : Resolved
singh satish
(Querist)
12 October 2017
Conditions for tax audit of company as per income tax act
Ashiwini Ballodia
(Expert)
12 October 2017
If the turnover exceeds Rs 1 CR
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CA Rashmi Gandhi
(Expert)
12 October 2017
1. If your gross turnover exceeds Rs.1 crore in case of business.
2. If your gross receipts exceed Rs.5000000/- in case of profession.
3. You declare profit u/s 44AD less than 8% of turnover.( turnover upto Rs.2 crore)
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Dhirajlal Rambhia
(Expert)
01 October 2021
Sorry, Company cannot opt for Sec, 44AD...
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