https://www.taxtmi.com/forum/issue?id=117341 Sale of Transferable Development Rights (TDR) by a developer must be included in turnover for assessing tax audit applicability. For a private limited company, TDR receipts are aggregated with other receipts to determine whether the statutory tax audit threshold is exceeded. The presumptive profit benchmark of eight percent is not available to companies; therefore, reporting profit below that benchmark or a loss does not exempt a company from tax audit if turnover (including TDR proceeds) exceeds the threshold. en-us Thu, 08 Jul 2021 18:49:18 +0530 Thu, 23 Jan 2025 15:54:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117341 Sale of Transferable Development Rights (TDR) by a developer must be included in turnover for assessing tax audit applicability. For a private limited company, TDR receipts are aggregated with other receipts to determine whether the statutory tax audit threshold is exceeded. The presumptive profit benchmark of eight percent is not available to companies; therefore, reporting profit below that benchmark or a loss does not exempt a company from tax audit if turnover (including TDR proceeds) exceeds the threshold. Discussion-Forum Income Tax Thu, 08 Jul 2021 18:49:18 +0530 https://www.taxtmi.com/forum/issue?id=117341