Tax audit or 44ad

Total sales, turnover or gross receipts exceed Rs.1 crore in the FY If cash transactions are up to 5% of total gross receipts and payments, the threshold limit of turnover for tax audit is increased to Rs.10 crores (w.e.f. FY 2020-21)

Originally posted by : Joshua Dsouza
	I have one doubt... turnover limit of 1cr for tax audit for whom it's applicable??

For Your this question...

It's applicable to who can't opt sec 44ad. Means, Who is file his return with sec 44AA. Then the Tax Audit limit is 1cr.

If the total sales, turnover, or gross receipts surpass Rs. 1 crore in the financial year, and cash transactions constitute up to 5% of the total gross receipts and payments, the turnover threshold for a tax audit is elevated to Rs. 10 crores (effective from the financial year 2020-21).

Originally posted by : Alliance Tax Experts
	If the total sales, turnover, or gross receipts surpass Rs. 1 crore in the financial year, and cash transactions constitute up to 5% of the total gross receipts and payments, the turnover threshold for a tax audit is elevated to Rs. 10 crores (effective from the financial year 2020-21).

Okay...

What about if cash transactions 5.1%....???

then go with Tax Audit

Originally posted by : Alliance Tax Experts
	then go with Tax Audit

the limit is...???