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Tax Audit

This query is : Resolved 
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(Querist)
04 January 2021 Ours is Cinema Theatre having turnover less than Rs.5 cr
However cash is collected towards sale of tickets and canteen which is deposited next day in the bank
Such cash sales are more than 5% of total turnover

My question is whether tax audit is compulsory because all cash receipts are deposited in bank
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
04 January 2021 Yes, tax audit applicable if turnover exceed one crore.
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