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Is tax audit required for hotel business


Hima teja   15 September 2019

Hima teja

 8 points

| My Other Post

Sir is tax audit required for a hotel running through room rent whose turnover is around 60 lakhs and net loss around 20 lakhs.

avater

Kapadia Pravin   16 September 2019

Kapadia Pravin

 915 likes  14283 points

View Profile | My Other Post

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.


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