Applicability of 5 Crore Audit Limit

Under section 44AD, presumptive taxation turnover limit is 2 crores rupees

If we restrict our payments and receipts to 5% then also limit is 2 crore or it is 5 crore?

Under section 44AD, if you show Profit less than 8% of turnover then tax audit is mandatory otherwise if you show profit above 8% of turnover then tax audit is not applicable irrespective of 5% payment and receipts. As, for entites not opting for presumptive taxation under section 44AD for them 5% cash payments and receipts are applicable.

If i show profit above 6%/8% and turnover is above 2 crore then also audit applicable?

Yes , audit is applicable

Yes as turnover exceeds 2 crores rupees means you are not eligible for presumptive taxation and Normal tax provisions will apply then tax audit is applicable as turnover exceeds 1 crores rupees