Turnover exceeding 1 cr

if a person deals in vegitables so no gst is applicable and his turnover exceeds 1 cr then audit is applicable on it or not
Replies (4)
Quick Summary
This discussion clarifies tax audit requirements for individuals dealing in vegetables with a turnover exceeding 1 crore. If filing under presumptive taxation, a tax audit is generally not required. However, if presumptive taxation is not opted for, or if your net profit falls outside the limits of Section 44AD, a tax audit will be necessary.

Is it individual or any others ?
Its by an individual
Than if filing return under presumption taxation than tax audit not required.
otherwise required
If your np is less than the limits of 44ad then audit is reqd. otherwise you can go along with the provisions of 44ad

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details