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tax audit applicability, Income Tax

Issue Id: - 116070
Dated: 26-2-2020
By:- Madhavan iyengar
tax audit applicability

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A Company whose turnover is ₹ 4 crores in fy 2019-20 and has more than 95% of its transactions in sales and purchases in electronic mode in aforesaid case will tax audit not be applicable to the company as per the proposed amendment made in finance act 2020 wherein the limit specified in said cases ie more than 95% of transaction in sales and purchases thru electronic mode is upto ₹ 5 crores. ( proposed amendment will beEffective from 01/04/2020 ie AY 2020-21)

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1 Dated: 26-6-2020
By:- DR.MARIAPPAN GOVINDARAJAN

Whether it is just for information or absence of query?


1

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