Turnover audit limit
ANIKET (STUDENT) (157 Points)
24 February 2018
whats is turnover limit for Gst audit nd tax audit????
4 Replies
Sumit Sarswat
(Student)
(3154 Points)
Replied 24 February 2018
under GST law every registered taxable person whose turnover during a financial year exceed the limit of Rs. 2 crore then AUDIT is compulsory.
As per INCOME TAX Audit is compulsory :-
1) For business if turnover exceed Rs. 1 crore during the previous year
2) for profession if gross receipt excess Rs. 50 Lakhs during the previous year.
As per INCOME TAX Audit is compulsory :-
1) For business if turnover exceed Rs. 1 crore during the previous year
2) for profession if gross receipt excess Rs. 50 Lakhs during the previous year.
Sumit Sarswat
(Student)
(3154 Points)
Replied 24 February 2018
under GST law every registered taxable person whose turnover during a financial year exceed the limit of Rs. 2 crore then AUDIT is compulsory.
As per INCOME TAX Audit is compulsory :-
1) For business if turnover exceed Rs. 1 crore during the previous year
2) for profession if gross receipt excess Rs. 50 Lakhs during the previous year.
As per INCOME TAX Audit is compulsory :-
1) For business if turnover exceed Rs. 1 crore during the previous year
2) for profession if gross receipt excess Rs. 50 Lakhs during the previous year.
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