ilmscore | Prediction Details
"if you are running a business and if your turnover exceeds one crore rupees then you have to get your books of accounts audited by a chartered accountant but there is also one exception to that Now what does this say it says that if your cash receipts are up to five percent of your total receipts and if your cash payments are up to five percent of your total payments then the limit of tax audit is increased from one crore to ten crores so if you are doing F&O business okay strictly only F&O business then ideally the limit for you will be 10 crores"
By CA Rachana Phadke Ranade | July 20, 2022 | Pending
From video
Tax Audit Applicability on F&O | CA Rachana Ranade 00:01:26 - 00:02:00
Interpreted Prediction
The tax audit limit for businesses involved strictly in F&O transactions is 10 crores, provided that cash receipts and payments do not exceed 5% of total receipts and payments respectively.

Prediction Details

Topic
Tax Audit Applicability for F&O Transactions

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