Tax Audit Limit
Vivek Garg (102 Points)
08 July 2018
What is the tax audit limit for income earned from commission or brokerage?? Also whether we can file ITR-4 for that??
4 Replies
Jatin
(Accountant)
(3479 Points)
Replied 08 July 2018
If your income 1 crore then Audit required
You can file ITR 3
You can file ITR 3
Vivek Garg
(102 Points)
Replied 08 July 2018
so the criteria of rs.50 lakh will not apply as these are not considered as professional receipts
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 08 July 2018
Yes... Commission income is treated under Business head. So, the Tax Audit limit is 1cr is applicable.
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