Tax Audit Limit1

This discussion clarifies the tax audit limit for professionals and LLPs in India, which stands at Rs. 50 Lakhs. It confirms that an LLP formed for a cosmetic clinic, even with non-doctor partners, will be treated as a professional entity for tax audit purposes. While the Rs. 50 Lakh threshold applies to tax audits for professionals, all taxable individuals and entities must still file their income tax returns regardless of turnover.