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limit for tax audit
what is the tax audit limit for AY 18-19 Ay. my client TO is 1.26 crores. he is availing 44AD. is he liable for tax audit
Replies (4)
Tax audit for any eligible business having opted presumptive assessment u/s. 44AD is applicable only if turnover crosses 2 Crs.
So, in this case audit will be applicable, provided profit declared is less than 6/8% of TO.
when turnover above 1 crores and the assessee not availing 44AD and profit %age is more than 8%. weather he is liable for tax audit
Yes , vijay mohan as per provision of Section 44 AB clause (a) he is liable for tax audit.
Yes... If Assessee's Turn Over above 1cr and He can't opt sec 44AD then Tax Audit applicable as per sec 44AB and It's limit is 1cr...
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