TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>CBDT Clarifies Tax Audit Thresholds: Section 44AB Requires Audit Over Rs. 1 Crore; Section 44AD Exempts Up to Rs. 2 Crore.</h1> The Central Board of Direct Taxes clarified the threshold limits for tax audits under sections 44AB and 44AD of the Income-tax Act. Businesses must audit their accounts if their total sales, turnover, or gross receipts exceed one crore rupees as per section 44AB. However, those opting for the presumptive taxation scheme under section 44AD are exempt from audits if their turnover or receipts do not exceed two crore rupees. This higher threshold applies exclusively to assessees using the presumptive taxation scheme.
TaxTMI 
TaxTMI 
