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Nirmal Agrawal asked 1 year ago

In case my turnover is above 2cr to 5cr then what should i do in case i undertake every transaction in electronic mode?
Whether i should go for mandatory audit and if I don’t have to do audit then under which section i should show profit as u/s 44ad limit is 2cr.

1 Answers
RaviRavi Staff answered 1 year ago

Only Individual, HUF, Partnership (Excluding LLP) is eligible for 44AD if turnover is upto 2 crores, you are not eligible for 44AD as TO exceeds 2 crore.
Now Sec 44AB Clause (a) is relevant for you if receipts and payments both are 95% or more in electronic medium. if condition is satisfied tax audit is not applicable, if condition not satisfied tax audit will be applicable under this clause. 
 

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