Exemption for audit of accounts u/s 44AB increased to Rs 2 crore

Last updated: 02 February 2017

The existing provision of section 44AB of the Act, inter-alia provides that every person carrying on the business is required to get his accounts audited if the total sales, turnover or gross receipts in the previous year exceeds one crore rupees. The threshold limit for applicability of presumptive

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