Tax audit applicability for AY 2020-2021
This query is : Resolved
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 ????
But my reciepts from sale are totally in cash what shall be the applicability for audit under sec 44AB ????
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.
Message likes :
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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...
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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