less than 2crores are required audited f y 2016-18
Menu
Less than 2 crores business income
Replies (5)
mean which audit
tax audit
yes, if turnover of business exceeds rs.1crore during the fy then tax audit is compulsory u/s 44AB.
If you have opted for compostition scheme no audit is required as the limit for audit for the persons who opted composition scheme was 2cr
assessee covered by 44AD(whose turnover do not exceeds rs. 2 crore) are required to get its book of accounts audited u/s 44AB, if he claimed income less than 8% and his total income exceeds basic exemption limit i.e. rs. 250,000.
Recent Threads
- Waste Management services
- Seeking Clarity: New Transport Allowance Limits (D
- Query regarding Consolidated Gift Deed for Bank Tr
- TDS u/s194IB - Joint Ownership
- Free GST Reconciliation Tool in Google Sheets R
- NRI return after due date refund case
- TDS u/s 194J - training honorarium
- WHERE TO REGISTER UNDER PTRC AND PTEC ACTS ?
- Key Corporate Compliance Requirements for Private
- Gst Non Filling Return Notice
Related Threads
CAclubindia
