Tax Audit FY 2019-2020

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1 Points Posted on 14 December 2020
Can anyone explain in detail New Threshold limit for Tax audit FY 2019-2020(i.e. proposed limit of Rs. 5 crore) as this is little bit confusing.

can anyone explain it with suitable examples.
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On 14 December 2020 at 13:17 Report
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This discussion seeks clarification on the tax audit threshold for the Financial Year 2019-2020, specifically regarding the proposed limit of Rs. 5 crore. Participants are looking for detailed explanations and examples to understand the applicability of this threshold. There's a query about whether the Rs. 5 crore limit applies to FY 2020-21 instead of FY 2019-20, and confirmation is requested from other members.

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3924 Points Posted on 14 December 2020
I think 5 Crore turnover is applicable for F.Y 20-21 not for F.Y 2019-20
please confirm with others also .
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On 14 December 2020 at 21:41
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Accountant
3662 Points Posted on 14 December 2020
Agree with Mr Prasad
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On 14 December 2020 at 22:32

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