Is tax audit mandatory if gross total income is <250000
This query is : Open
23 September 2016
IS TAX AUDIT MANDATORY IF GROSS TOTAL INCOME IS LESS THAN 250000 EVEN THOUGH TURNOVER IS GREATER THAN 1 CRORE
23 September 2016
Dear Rohit,
Tax audit has no relation with the profit. if your turnover is greater than 1 crore than tax audit is compulsory else penalty will be levied
Hope your query is resolved
Message likes :
2 times
24 September 2016
Hope your query is resolved
24 September 2016
I read somewhere that if total income is negative the there is no need for tax audit
24 September 2016
Dear Rohit,
infact if your income is negative then also u have to get tax audit done
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Putting a heading on received mail
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Gift Received from nonblood relative
- EPF FULL & FINAL RULES IN 2026
- Rental income gst and it purpose
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
