Tax audit for loss assessees and companies
Anu Sam Baby (11 Points)
11 September 2020
is tax audit compulsory for loss assessees and companies
2 Replies
Gagan Deep Singh
(CHARTERED ACCOUNTANT)
(1190 Points)
Replied 11 September 2020
Tax audit is required on the basis of turnover if it exceeds one crore during the previous year.
Shiva Gupta
(Paid Assistant)
(155 Points)
Replied 12 September 2020
In case of Individuals , HUF and Partnership firm tax audit should be mandatory if profit shows less than 6% or 8% of turnover.
Other than above, tax audit requires, if they exceed the turnover limits.
Other than above, tax audit requires, if they exceed the turnover limits.
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