Tax audit limit for telecom business for fy 2016-2017

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 May 2017 Sir i am Aircel (Sim & recharge card) distributor. my total turnover for the FY 2016-2017 is approx 1.5 caror. My query is Audit is compulsory for me or not? please suggest

Thanks

Nikhil Kaushik online

Nikhil Kaushik online

(Expert)
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24 May 2017 your gross income is only the commission part of the gross receipts. only that commission should form part of your books. And ideally in your case audit won't apply if such commission is below 2 cr. Also note that in case you wish to consider whole of the gross receipts, even then audit won't apply as the threshold for the same now stands at 2 cr.