A cosmetic surgen (doctor) with other person (non doctor) form LLP to carry business of Cosmetic clinic (hair transplant, beautification).
what is tax audit limit?
What will be LLP status, business or profession for tax audit?
8 Replies
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 10 December 2022
Profession : 50Lakhs limit is applicable
sabyasachi mukherjee
(27574 Points)
Replied 11 December 2022
So professionals in any field need not file returns. No they need to file returns. This is a limit or applicability for tax audit.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 11 December 2022
Every taxable person has to file Income tax return and there is no exemption to any category of professionals
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 11 December 2022
If turnover exceeds 50laks then tax audit is applicable even for profession
vaibhav madaan
(8 Points)
Replied 14 December 2022
Get whole information regarding audit and taxes from Habibullah & Co.
This blog will tell you whole detail - https://www.hcoca.com/internal-audit-company-india.aspx
CA LAVESH VASYANI
(CA IN PRACTICE)
(150 Points)
Replied 15 January 2023
Sir,
The tax audit limit is Rs. 50Lakhs for professionals. LLP will be considered as Professional status.
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