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Tax Audit Limit1

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Students/ Proprietor
114 Points Posted on 10 December 2022
A cosmetic surgen (doctor) with other person (non doctor) form LLP to carry business of Cosmetic clinic (hair transplant, beautification).
what is tax audit limit?
What will be LLP status, business or profession for tax audit?
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On 10 December 2022 at 03:14 Report
Replies (8)
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CFO- at NHTF
58280 Points Posted on 10 December 2022
Profession : 50Lakhs limit is applicable
8 Reply
On 10 December 2022 at 08:33
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Profession Business
28207 Points Posted on 11 December 2022
So professionals in any field need not file returns. No they need to file returns. This is a limit or applicability for tax audit.
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On 11 December 2022 at 07:55
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CFO- at NHTF
58280 Points Posted on 11 December 2022
Every taxable person has to file Income tax return and there is no exemption to any category of professionals
8 Reply
On 11 December 2022 at 09:30
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Profession Business
28207 Points Posted on 11 December 2022
Sec 139(1) is applicable.
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On 11 December 2022 at 15:23
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CFO- at NHTF
58280 Points Posted on 11 December 2022
If turnover exceeds 50laks then tax audit is applicable even for profession
8 Reply
On 11 December 2022 at 15:25
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8 Points Posted on 14 December 2022

Get whole information regarding audit and taxes from Habibullah & Co.

This blog will tell you whole detail - https://www.hcoca.com/internal-audit-company-india.aspx

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On 14 December 2022 at 13:11
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CFO- at NHTF
58280 Points Posted on 15 December 2022
🌹👍🏻
1 Reply
On 15 December 2022 at 08:14
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CA IN PRACTICE
150 Points Posted on 15 January 2023
Sir, The tax audit limit is Rs. 50Lakhs for professionals. LLP will be considered as Professional status.
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On 15 January 2023 at 21:11


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