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Tax Audit Limit - 1 Cr. or 2 Cr.

Posted @ January 6, 2019, 10:06 pm under (TAX AUDIT)

Tax Audit Limit is as follows :-

i. Business not opting for Presumptive Income Scheme- Tax Audit Limit Rs. 1 crores  wheras Business opting Presumptive Income scheme u/s 44AD- Tax Audit Limit Rs. 2 crores. Thus Company, LLP, Commission Agent etc. cannot opt for presumptive scheme in these cases Tax Audit Limit will be Rs. 1 Crore for Business and 50 Lakh for Professionals. 

 

ii. Professionals Not opting for Presumptive Income Scheme- Tax Audit Limit Rs.50 Lakhs whereas Professionals opting Presumptive Income scheme u/s 44ADA- Tax Audit Limit Rs.50 lakhs

 

 

 


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