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Threshold limit as per section 44AB

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ARTICLE
382 Points Posted on 24 July 2021
What is the increased amount of threshold limit as per section 44AB, if the taxpayer’s cash receipts are limited to 5% of the gross receipts or turnover? (with effect from AY 2020-21 (FY 2019-20)
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On 24 July 2021 at 22:03 Report
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CA
1218 Points Posted on 24 July 2021

It is 10 crores from AY 21-22; before it is 5 crore.

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On 24 July 2021 at 22:10
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CMA
13117 Points Posted on 24 July 2021
For FY19-20, it would be up to a turnover/gross-receipt of Rs.5cr and for FY20-21 onwards, Rs.10cr.
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On 24 July 2021 at 22:14
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Chartered Accountant
24588 Points Posted on 25 July 2021
10 crores rupees for AY 2021-22 and 5 crores rupees for AY 2020-21
129 Reply
On 25 July 2021 at 05:46


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