Tax audit threshold raised when cash transactions are minimal, allowing a higher turnover exemption subject to cash limits.

The amendment inserts a proviso providing that where a taxpayer's aggregate cash receipts and aggregate cash payments each do not exceed five per cent of respective totals for the previous year, the turnover-based tax audit clause shall operate as if the turnover threshold were substituted with a higher limit; the Explanation is also amended by adding a temporal qualifier before the reference date used for measurement.

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