https://www.taxtmi.com/forum/issue?id=116965 Practitioner responses conflicted on the section 44AB audit threshold for FY 2019-20: one asserted a higher turnover limit and set presumptive profit percentages for non-digital and digital transactions; another maintained a lower audit threshold, explained that presumptive profit rates apply up to an intermediate turnover band without requiring audit, and that above that band taxpayers must be taxed on actual profit only if the condition concerning the proportion of payments and collections is satisfied. en-us Sat, 16 Jan 2021 18:17:28 +0530 Thu, 23 Jan 2025 15:54:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116965 Practitioner responses conflicted on the section 44AB audit threshold for FY 2019-20: one asserted a higher turnover limit and set presumptive profit percentages for non-digital and digital transactions; another maintained a lower audit threshold, explained that presumptive profit rates apply up to an intermediate turnover band without requiring audit, and that above that band taxpayers must be taxed on actual profit only if the condition concerning the proportion of payments and collections is satisfied. Discussion-Forum Income Tax Sat, 16 Jan 2021 18:17:28 +0530 https://www.taxtmi.com/forum/issue?id=116965