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Audit limit for telecom business for fy 2016-2017

monesh agrawal (accountant) (49 Points)

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

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Studentsca (CA Practice ) (3577 Points)
Replied 24 May 2017

If you opt for for Section 44AD then audit turnover limit is 2Crores. In that case no audit will be applicable. However if you do not opt for Section 44AD then you are liable for tax audit U/S 44AB as limit prescribed there is 1 Crore. If you opt for 44AD carefully understand the conditions then decide whether you want to opt for it or not.