Yadav & Co. is engaged in wholesale trade. 98% of all receipts and expenses are through net banking. The assessee wants to know the turnover limit up to which its books of account need not to be audited under section
CS Executive · Tax Laws · PYQS · June 2023
Yadav & Co. is engaged in wholesale trade. 98% of all receipts and expenses are through net banking. The assessee wants to know the turnover limit up to which its books of account need not to be audited under section 44AB of the Income Tax Act, 1961 and is eligible to admit the income as per books of account?
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax Act, 1961
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