Tax audit and Transfer pricing was done for the assessee till AY 19-20. For AY 20-21, the turnover is below 5cr and cas receipts is below 5%. However, Form 3CEB is to be filed as Transfer pricing is applicable to them. Please tell me whether it is mandatory to do tax audit for them?
Thanks in advance.
| Originally posted by : Bhavya Antony | ||
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Tax audit and Transfer pricing was done for the assessee till AY 19-20. For AY 20-21, the turnover is below 5cr and cas receipts is below 5%. However, Form 3CEB is to be filed as Transfer pricing is applicable to them. Please tell me whether it is mandatory to do tax audit for them? Thanks in advance. |  |
Yes tax audit would definitely be required as turnover is above 1cr.
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