Tax Audit is Compulsory or not
This query is : Resolved
04 December 2020
My Last year turnover was more then 1 cr. and my Tax audit was done in last FY 18-19. but in this FY 19-20 my total turnover is below 60 lac. My query is :
1. Tax audit is compulsory for me ?
2. If my turnover is less in the years ahead, then for how many years will I have to be audited.
Thanks
1. Tax audit is compulsory for me ?
2. If my turnover is less in the years ahead, then for how many years will I have to be audited.
Thanks
28 December 2020
Audit is only required when turnover exceeds the limits prescribed.
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