Sec 44-AB or AD whatever, it states that Tax audit is not required if Turnover is less than 1 crore ( upto FY 2016-17 )
and less than 2 crores now. The same section states that tax audit is required if turnover is less than 2 crores,but
total income ( salary, other incomes etc ) exceeds min tax exemption limit of 2.5 lakhs. What if turnover in
share market exceeds Rs 2 crores, profit less than 6%, but all incomes put together is less than Rs 2.5 lakhs?
and less than 2 crores now. The same section states that tax audit is required if turnover is less than 2 crores,but
total income ( salary, other incomes etc ) exceeds min tax exemption limit of 2.5 lakhs. What if turnover in
share market exceeds Rs 2 crores, profit less than 6%, but all incomes put together is less than Rs 2.5 lakhs?