Higher threshold 2 crores limit for non audit is applicable for presumptive taxation u/s 44AD(1) only and not to tax audit u/s 44AB – CBDT
June 21, 2016
Income Tax
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, the 20th June, 2016 Sub: Threshold Limit of tax audit under section 44AB and section 44AD – clarification regarding Section 44AB of the Income-tax Act (‘the Act’) makes it obligatory …