Am i eligible for Tax Audit U/S 44AB

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job
118 Points Posted on 13 January 2021

Dear Friends ,

i have a business T/O of rs. 90 lakhs with loss of rs. 5 lakhs and salary in come of 100 lakhs . so i am eligible for tax Audit and i do not want to opt 44AD

please all respected member i need your guidance in this regard 

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On 13 January 2021 at 16:44 Report
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Quick Summary
This discussion addresses whether a business with a turnover of ₹90 lakhs and a loss of ₹5 lakhs, alongside salary income of ₹100 lakhs, is eligible for a tax audit under Section 44AB. The consensus is that the business turnover is below the mandatory threshold of ₹1 crore, therefore, a tax audit is not required, even for the purpose of carrying forward the business loss.

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17269 Points Posted on 13 January 2021
You are not qualifying for Tax Audit. No tax audit required.
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On 13 January 2021 at 16:57
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Chartered Accountant
24588 Points Posted on 13 January 2021
Not eligible for tax audit as turnover is less than 1 crores rupees
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On 13 January 2021 at 17:48
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Accountant
4533 Points Posted on 16 January 2021
It's mandatory for u to get audited to carry forward of loss
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On 16 January 2021 at 19:14
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17269 Points Posted on 17 January 2021

No tax audit required. Even for carry forward of loss.

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On 17 January 2021 at 10:12

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