Is a tax audit applicable to me?

Name: Vijay R Singh & Co.
Address: Office No. 4, Vishal CHSL, D Wing, Sir Mathuradas Vasanji Road, Azad Nagar, Opp. Andheri Gymkhana, Andheri East, Maharashtra, 400069, IN
Telephone: +91 98607 23959

CA Vijay R Singh, FCA
Chartered Accountant · ICAI M.No. 153926 · FRN 136869W

Short answerA tax audit under Section 44AB applies if your business turnover crosses ₹1 crore (₹10 crore if your cash receipts and payments are each within 5%), or your professional receipts cross ₹50 lakh. It’s also triggered if you declare lower profits than the presumptive rate.

When it applies

Business: turnover over ₹1 crore (or ₹10 crore for largely digital businesses). Profession: receipts over ₹50 lakh. Confirm limits per the current Finance Act.

Presumptive trigger

Even below the limit, declaring income lower than the presumptive rate (while income exceeds the basic exemption) can require an audit.

Audit

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This answer is general information for businesses, not professional advice. Tax rates, thresholds and forms change with each Finance Act — please confirm the current position for your own facts, or speak to us, before acting.