Tax audit limit for Ay 2020-21.

1.. Tax audit applicable for person carrying on business, if his total sales, turnover or gross receipts, as the case may be, in business exceeds 1 crore rupees.

if the taxpayer’s cash receipts are limited to 5% of the gross receipts or turnover, and if the taxpayer’s cash payments are limited to 5% of the aggregate payments, than this limit is 5 Crores.

2.. if carrying on profession than if his gross receipts in profession exceed 50 lakh rupees.