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Is tax audit required for hotel business
Sir is tax audit required for a hotel running through room rent whose turnover is around 60 lakhs and net loss around 20 lakhs.
Replies (1)
Tax audit is not required to you.
When turnover or Gross Receipts exceed 1 crore then only tax audit under 44AB is required.
Book of account and financial statements ( BS & P&L) are must for your hotel business.
When turnover or Gross Receipts exceed 1 crore then only tax audit under 44AB is required.
Book of account and financial statements ( BS & P&L) are must for your hotel business.
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