What is the tax audit turnover limit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 June 2018 Dears
what is the tax audit turnover limit for partnership firms for the F.Y 2017-2018 and
turnover means it is INCLUSIVE of TAXES or EXCLUSIVE of TAXES.Please clarify.
thanks in advance
suri

RAJA P M

RAJA P M (Expert)
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15 June 2018 Tax audit limit u/s 44AB Rs. 1 crore...
In case the assessee opt u/s 44AD (eligible business) then they can avail upto Rs. 2 cr. Above Rs. 2Cr Tax Audit is mandatory to all cases...

In 44AD :
If the firm is declare his profit 8% and above then no need Tax audit as per above T/O value. In case they will declare less than 8% then Tax Audit applicable...

Querist : Anonymous

Querist : Anonymous (Querist)

18 June 2018 thank you sir but 1 cr TURNOVER MEANS IS IT INCLUSIVE OF TAX OR EXCLUSIVE OF TAX ?
please clarify.

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