https://www.taxtmi.com/manuals?id=1154 Mandatory tax audit applies where business turnover or professional gross receipts exceed the prescribed limits, and also where a taxpayer covered by presumptive or deemed-profit provisions claims profits lower than the statutory amount. A higher business threshold is available for low-cash businesses if cash receipts and payments stay within the prescribed percentage limits. The audit report must be furnished by the specified date in the prescribed form, and compliance is sufficient where audit is already required under another law and the prescribed reports are furnished on time. en-us Tue, 15 Sep 2015 11:43:00 +0530 Thu, 07 May 2026 15:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1154 Mandatory tax audit applies where business turnover or professional gross receipts exceed the prescribed limits, and also where a taxpayer covered by presumptive or deemed-profit provisions claims profits lower than the statutory amount. A higher business threshold is available for low-cash businesses if cash receipts and payments stay within the prescribed percentage limits. The audit report must be furnished by the specified date in the prescribed form, and compliance is sufficient where audit is already required under another law and the prescribed reports are furnished on time. Manuals Income Tax Tue, 15 Sep 2015 11:43:00 +0530 https://www.taxtmi.com/manuals?id=1154