THRESHOLD LIMIT FOR 44AB TAX AUDIT FOR FY 2019-20

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....HRESHOLD LIMIT FOR 44AB TAX AUDIT FOR FY 2019-20<br> Query (Issue) Started By: - MVK TAXAUDIT Dated:- 16-1-2021 Last Reply Date:- 4-2-2021 Income Tax<br>Got 2 Replies<br>Income Tax<br>WHAT IS THE THRE....

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....SHOLD LIMIT FOR 44AB TAX AUDIT FOR FY 2019-20. WHETHER IT IS 1 CRORE OR 5 CRORE. WHAT IS THE PROFIT PERCENTAGE THAT HAS TO BE DECLARED IF IT IS 5 CRORE? Reply By PAWAN KUMAR: The Reply: dear sir, t....

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....he turnover is now 5 crore in previous year. profit percentage is 8 for non-digital transaction, 6 percentage for digital transaction. Reply By CASusheel Gupta: The Reply: Tax Audit limit is &#8377....

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....; 1Crore. For turnover up &#8377; 2 crore, declare profit 6%/8% and no need for tax audit. If turnover exceeds &#8377; 2 Crore, pay tax on actual profit but only if condition of 95% of payment and....

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.... collection is met and no need for tax audit. CA Susheel Gupta<br> Discussion Forum - Knowledge Sharing ....