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section 44AB

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51 Points Joined October 2017
Hi,

what is limit of tax audit under 44AB and for which assessment year change the tax audit change i.e. 2 cr. from 1 cr.
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On 16 October 2017 at 16:03 Report
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Managing Partner at TAXounting
8742 Points Joined November 2013

For AY17-18 tax audit to be done if turnover exceeds Rs1 Cr u/s 44AB

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On 16 October 2017 at 16:16
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1234 Points Joined August 2017
1 cr..
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On 16 October 2017 at 16:19
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26 Points Joined September 2015
1 cr.
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On 16 October 2017 at 21:28
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609 Points Joined September 2013
tax audit is required, in case of business, if the the turnover exceeds 1 crore .

However there was a circular issued that in case assesse is opting sec 44 AD the tax audit is required only if the turnover exceeds 2 crore.
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On 16 October 2017 at 21:56
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609 Points Joined September 2013
you can google press release dated 20/06/2016 for sec 44AD
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On 16 October 2017 at 22:03

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