Tax audit applicability for AY 2020-2021

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Ajit Gelada (Querist)
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26 July 2020 I mr A having turnover of 1.9CR filling return under section 44AD is audit applicable to me ?
But my reciepts from sale are totally in cash what shall be the applicability for audit under sec 44AB ????

CA Raj Doshi

CA Raj Doshi (Expert)
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26 July 2020 For FY 2019-20 AND FY 2020-21 You are not liable for audit because you are covered under 44AD and offering income as per that scheme and also satisfying all conditions.

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RAJA P M

RAJA P M (Expert)
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29 July 2020 TAX AUDIT NOT APPLICABLE IF YOU ARE OPT TO FILE U/S 44AD..
NOTE, CHECK OUT THE CONDITIONS IF YOUR BUSINESS (& ASSESSEE) IS ELIGIBLE U/S 44AD THEN YOU CAN GO TO FILE ITR UNDER PRESUMPTIVE TAXATION SCHEME AS PER ABOVE SAID TURN OVER...

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