In cases where aggregate of all amounts received including amount received for sales, turnover or gross receipts during the previous year, in cash, does not exceed five percent of the said amount and aggregate of all payments made including amount incurred for expenditure, in cash, during the previous year does not exceed five percent of the said payment, the tax audit u/s 44AB will apply when the turn¬over exceeds ₹ crores.
A. 1
B. 2
C. 5
D. 8
Answer:C
In cases where aggregate of all amounts received including amount received for sales, turnover or gross receipts during the previous year, in cash, does not exceed five percent of the said amount and aggregate of all payments made including amount incurred for expenditure, in cash, during the previous year does not exceed five percent of the said payment, the tax audit u/s 44AB will apply when the turn¬over exceeds ₹ crores.
A. 1 B. 2 C. 5 D. 8