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Tax Audit Applicability, Income Tax

Issue Id: - 117341
Dated: 8-7-2021
By:- Bipin Parmar
Tax Audit Applicability

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Dear Experts,

Whether sale of TDR (by developer) counted in Turnover for the purpose of applicability of tax audit? If yes what would be tax audit limit for pvt. ltd co? If it declares profit less than 8% or say loss then will it be required to get it's accounts audited?



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1 Dated: 10-7-2021

Yes TDR sale is to be counted for Tax Audit Limit which is ₹ 1 Cr and Sec 44AD provision of declaring 8 % profit is not applicable for Co.

2 Dated: 12-7-2021
By:- Bipin Parmar

Thank you sir for your response.


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