Tag Archives: Taxation:

Presumptive Taxation: No Audit For Turnover Of Up To Rs 2 Crore

July 21, 2016 Comments Off on Presumptive Taxation: No Audit For Turnover Of Up To Rs 2 Crore

New Delhi: The Finance Ministry on Monday said small businesses with a total turnover of up to Rs 2 crore will not be required to get their accounts audited if they opt for the presumptive taxation scheme. “The higher threshold (up to Rs 2 crore) for non-audit of accounts has been given only to assessees opting for presumptive taxation scheme ... Read More »