one person is having business and profession , what is the tax audit limit for him.
How we have to see business wise or person wise.
in the present case total turnover is more than 50L( business is 40L and profession is 13L), whether tax audit will applicable for him?
Menu
Tax audit applicability for business and profession
Replies (4)
For business and profession limit is 1 crores rupees if cash transactions exceeds 5% and 10 crores rupees if cash transactions is limited to 5% and online mode will be 95% subject to 5 crores rupees.
No, tax audit is not applicable in both the cases
No, tax audit is not applicable in both the cases
In you case Tax audit is not applicable
Business and profession are considered separately.
so audit is not applicable in your case
so audit is not applicable in your case
I think tax audit is not applicable
Recent Threads
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
- Who is responcible to pay GST Liability (If Servi
- Excess Payment on RCM
- AOC4 auto population of previous year data
- Exports against INR PO payable by Domestic Company
- Which websites are best for government exam prepar
- TDS on maturity payment of LIC of india
- ITR2 Gold ETF short and long term
- Query under faceless assessment
Related Threads
CAclubindia
