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Tax audit limit fy 17-18
Plz tell me what is turn over limit for Tax Audit for FY 17-18.
Replies (4)
It is Rs. 2 crore and above
Tax Audit Limit Rs. 1cr under sec 44AB...
In case Assessee will declare his income u/s 44ad (If eligible assessee and eligible business) then he can avail the benefit upto 2cr...
In case Assessee will declare his income u/s 44ad (If eligible assessee and eligible business) then he can avail the benefit upto 2cr...
If the turnover exceeds RS 1 cr, then tax audit is applicable.
But if the assessee opts for presumptive taxation then the limit is RS.2cr
But if the assessee opts for presumptive taxation then the limit is RS.2cr
under sec 44ab, if annual turnover exceeds 1 crore
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