Tax Audit Applicability, Income Tax

[Bipin Parmar]

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?

Thanks

Bipin

Posts / Replies

[ARVIND JAIN]

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.

[Bipin Parmar]

Thank you sir for your response.