Tax audit limit for telecom business for fy 2016-2017
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 May 2017
Sir i am Aircel (Sim & recharge card) distributor. my total turnover for the FY 2016-2017 is approx 1.5 caror. My query is Audit is compulsory for me or not? please suggest
Thanks
Thanks
24 May 2017
your gross income is only the commission part of the gross receipts. only that commission should form part of your books. And ideally in your case audit won't apply if such commission is below 2 cr. Also note that in case you wish to consider whole of the gross receipts, even then audit won't apply as the threshold for the same now stands at 2 cr.
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