Respected sir,
My client got income tax audit in fy 2021-22. At that time its turnover was 1 cr 5 lakh but in fy 2022-23 its turnover is only 60 lakh so will it have to be audited this year? or non audit.
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Income tax Audit Mandate or not
Replies (1)
For turnover of (any business/es) of Rs. 60 lakhs, tax audit u/s. 44AB(a) IT act, is not applicable.
But check for any tax audit liability u/s. 44AB(e) of the act.
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