Is tax audit required for hotel business


Hima teja   15 September 2019

Hima teja

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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

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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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