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Limitbfor tax audit

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514 Points Posted on 23 July 2022
what is the limi for tax audit.?my firm has turnover 1.8cr...can i file return as loss..? pls reply thanks in advance
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On 23 July 2022 at 17:10 Report
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CFO- at NHTF
58280 Points Posted on 23 July 2022
Tax Audit Limit is 1 crore for business and 50Lakhs for professional..

But loss should be audited irrespective of turnover
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On 23 July 2022 at 17:54
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Chartered Accountant
86505 Points Posted on 23 July 2022
In case 5% of all transactions are in mode other than cash then limit is 10000000
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On 23 July 2022 at 19:47
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514 Points Posted on 24 July 2022
If i declare profit less than 5%?
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On 24 July 2022 at 16:10
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Chartered Accountant
86505 Points Posted on 26 July 2022
5% is not profit it's number of transactions
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On 26 July 2022 at 05:19
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CFO- at NHTF
58280 Points Posted on 26 July 2022
Take the help of professionals like CAs. They may guide you.

Better to go for Audit voluntarily to get the benefits of audited FS
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On 26 July 2022 at 08:32


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