SEC 44AB - Tax Audit

Has the limit of ₹1cr. updated with ₹5cr from AY 20-21 ? or is it still proposed ?
Replies (2)
Quick Summary
This discussion clarifies the threshold for Tax Audit under Section 44AB of the Income Tax Act. It confirms that the limit has indeed been updated to ₹5 crore from Assessment Year 2020-21 onwards. However, this increased limit is subject to the condition that cash receipts and cash payments do not exceed 5% of the total turnover.

Updated to 5crore
Yes , the limit is that the cash receipts and cash payments shall not exceed 5% of total turnover .

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details