Section 44 AB

This discussion clarifies the applicability of Section 44AB for tax audits. It explains that only turnover (for businesses) or gross receipts (for professions) are considered, not other income. Therefore, if your turnover is £25 lakh and other income is £1 crore, a Section 44AB audit is not applicable based on turnover alone. However, if income from a profession exceeds £50 lakh, a tax audit would be required.