Union Budget 2021 - Tax audit limit increased to Rs 10 crore for business not exceeding 5% cash transaction

Last updated: 01 February 2021

Under section 44AB of the Act, every person carrying on business is required to get his accounts audited, if his total sales, turnover or gross receipts, in business exceed or exceeds one crore rupees in any previous year. In case of a person carrying on profession he is required to get his accounts

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