TAX AUDIT related

03 February 2021

sir my total sales fy 1920 is 1.9 crore and all transcation done through banking channel and profit is below 6%. can its liable for tax audit

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5 Replies

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 03 February 2021

Yes, as the turnover is below 6% you are liable to get books of accounts audited u/s 44AB.

V SUBRAMANIAM (504 Points)
Replied 04 February 2021

If the receipts n payments by cash not more than five percent then no need to file TAR

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 04 February 2021

Yes tax audit is compulsory

anil jain (Partner) (1072 Points)
Replied 05 February 2021

since turnover is under 2crore and profit below 8%.

per 44AD Tax Audit is required.

Vaibhav Mhanare (2 Points)
Replied 05 February 2021

1. Which of the following taxes will be levied on imports ?

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