Question ID :
44339
Presumptive taxation for Professionals
A professional having Turnover of 18 Lacs but income of Rs 4 Lacs whether will require Tax Audit as condition for not requiring Tax Audit is that he should not have income more than exempted Limit that is 2.50 Lacs
Posted by
Mahesh Kumar
on
Aug 07, 2022
Filed Under
DIRECT TAXES
Answer ID :
83583
Tax audit is required.
Posted by
B.CHACKRAPANI WARRIER on
Aug 09, 2022
Answer ID :
83632
Yes. Tax audit is required.
Posted by
CA. chunauti dholakia on
Aug 13, 2022
Answer ID :
83635
If total income exceeds basic exemption limit and profit is less than 50 percent then tax audit required.
Posted by
VINAY BHARGAV KUMAR G on
Aug 19, 2022
Answer ID :
83655
If income is lower then 50%, tax audit needs to be done
Posted by
SURAJ KUMAR CHOUDHARY on
Aug 23, 2022