Part XIVAMENDMENTS TO CERTAIN ACTS TO PROVIDE FOR MERGER OF TRIBUNALS AND OTHER AUTHORITIES AND CONDITIONS OF SERVICE OF CHAIRPERSONS, MEMBERS, ETC. (From Section 156 to Section 189 )
Audit exemption for presumptive taxation where turnover falls below the statutory threshold narrows tax audit coverage accordingly. A new proviso excludes from the audit provision any person who declares profits under the presumptive business provisions and whose total sales, turnover ... Summary
Audit exemption for presumptive taxation where turnover falls below the statutory threshold narrows tax audit coverage accordingly.
A new proviso excludes from the audit provision any person who declares profits under the presumptive business provisions and whose total sales, turnover or gross receipts in the relevant year do not exceed two crore rupees; existing provisos are reworded as "Provided further that" and "Provided also" to reflect the insertion.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 1
Join Channel
TaxTMI 
