banner_ad

Tax Audit Compliance

Tax queries 687 views 6 replies
Dear Tax Experts,
I have a query relating to the tax audit compliance of an assessee who has to get its accounts audited under the income tax law
I have a query that what is the ceiling  limit of turnover for tax audit audit compliance ...and what are the eligible conditions ..for my accounts to be audited u/s 44ad..if my turnover is upto 1 cr or if my turnover is less than 2 crore but more than 1 crore
pls reply
Replies (6)
Dear Anmol
For the AY 2017-18 tax audit limit is 1cr so u have to get tax audit done
For section 44AD tax audit is required if turnover exceeds 2 crore. Otherwise the turnover limit is Rs. 1.0 crore for compulsory tax audit
thankyou very much for your replies
so the conclusion is that if my turnover exceeds 1 crore but less than 2 crore i will be eligible for tax audit..if i am not computing my income u/s 44ad... and if my turnover exceeds 2 crore..i have to get my accounts audit compulsory
please correct me if i am wrong
your understanding is correct
For detail information Please see sec 44ab of income tax act 1961
Tax audit is compulsory in two cases 1.when turnover execcds by limit 2.when u are showing less income then prescribed limit


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details