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TAX AUDIT 1234455

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ipcc
86 Points Posted on 08 February 2023
Future and option turnover limit and audit is compulsory or not
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On 08 February 2023 at 21:35 Report
Replies (4)
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CFO- at NHTF
58280 Points Posted on 09 February 2023
Net positions will be added for calculating turnover.

Profit + Loss both should be added to arrive the turnover
59 Reply
On 09 February 2023 at 01:26
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Chartered Accountant
86505 Points Posted on 09 February 2023
You can do turnover upto any limit .

Upto 10 crore declare 6% profit no need for audit , if profit is less than 6% audit will be applicable.

Above 10 crore compulsorily required to get audit
814 Reply
On 09 February 2023 at 08:26
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CFO- at NHTF
58280 Points Posted on 12 February 2023
@ Nirmal Paliwal ,

Turnover limit for tax audit is 2 Crores for FY-2022-23 and 3 Crores for FY-2023-24.

Tax Audit is mandatory if turnover exceeds 2 Crores
59 Reply
On 12 February 2023 at 08:27
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Chartered Accountant
86505 Points Posted on 14 February 2023
Tax audit limit is 1 crore, 2cr or 3 cr only in case of 44AD & where cash transactions are less than 5% of all transactions then limit is Rs 10 crore
814 Reply
On 14 February 2023 at 08:10


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