Commission Income 194H for Tax Audit Limits
This query is : Resolved
D SRINIVASULU REDDY
(Querist)
30 September 2021
I received Commission Received of Rs. 1,94,65,450/- for the F Y-2020-21. for this case Have to Tax Audit Compulsory or Can File Profit Shown More the 8%. If Showing More then 8% Compulsory Have to Do tax Audit
Please Clarify this Issue Sir
Please Clarify this Issue Sir
Dhirajlal Rambhia
(Expert)
30 September 2021
If all (or more than 95% of them) of your payments as well as receipts are under banking/digital mode, then tax audit not applicable. Otherwise tax audit u/s. 44AB(a), is mandatory.
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