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Tax audit limit for contractors

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106 Points Posted on 13 September 2023
I am in work contract service.
my turnover is below 2 crore. please tell me income tax audit is applicable on me or not?
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On 13 September 2023 at 02:29 Report
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Student
1628 Points Posted on 13 September 2023
1. If the aggregate of all amounts received and Payment in cash, does not exceed 5% of the Turnover - Tax Audit Not Applicable

2. If The above condition is not satisfied and you are eligible for the presumption taxation scheme - Tax Audit Not Applicable
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On 13 September 2023 at 09:15
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CA ipcc
449 Points Posted on 13 September 2023
If you are declaring 8% profit, not required. if not, then required
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On 13 September 2023 at 09:57


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