How much
This query is : Resolved
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Maishad Khan
(Querist)
27 October 2021
Dear experts,
Let me know the threshold limit under section 44AB Tax audit for the A.Y. 2021-22 if the assessee fulfil all the condition below:
- receipts in cash < 5% of total receipts during the previous year and
- payments in cash < 5% of total payments during the previous year.
Thanks
Let me know the threshold limit under section 44AB Tax audit for the A.Y. 2021-22 if the assessee fulfil all the condition below:
- receipts in cash < 5% of total receipts during the previous year and
- payments in cash < 5% of total payments during the previous year.
Thanks
CA R SEETHARAMAN
(Expert)
27 October 2021
It's 10 crores the limit.
Dhirajlal Rambhia
(Expert)
27 October 2021
IF SEC 44ad(4) not attracted, then its Rs.10 Crs. for business entities.
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