For AY 2021-22, what is the criteria for tax audit
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Quick Summary
For the Assessment Year 2021-22, a tax audit under Section 44AB is generally required if your turnover exceeds ₹1 crore. However, this threshold changes if cash payments and receipts constitute more than 5% of your total receipts and payments, in which case the turnover limit for mandatory audit increases to ₹5 crore.
Turnover should exceed 5 crores rupees and if cash payment and receipts exceeds 5% of total receipts and payments then tax audit is required for AY 21-22