29 January 2021
Dear All One of my client has aqua business - the turn over is more than one crore and less than two crores. All the receipts are only through bank accounts and there are no cash receipts. But the expenses is more than 5% of total expenses - is tax audit applicable in this case. Please clarify. R S Sai Kumar
30 January 2021
Thanks to all -- but when I am generating the xml file, it is showing warning - that - whether cash expenses are more than 5% of total expenses or not - the options are YES and No- The cash expenses are more than 5 percent, if I select "YES", then, is the Tax Audit applicable? Please let me know
CAclubindia
