Tax audit limit for LLP
This query is : Resolved
19 November 2024
Is tax audit necesarry if the business income is less than 1crore but capital gain is more than 10 crore for LLP
19 November 2024
No. A tax audit is necessary only if the business income (turnover or gross receipts) exceeds ₹1 crore. Capital gains, regardless of being more than ₹10 crore, do not automatically trigger a tax audit unless they are part of a business activity.
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