Multiple Choice Questions on For Tax Audit the specified limit given under Income Tax Act 1961 for a person carrying on business ........... for Punjab Government (Allied) Exams Preparation

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Multiple Choice Questions

For Tax Audit the specified limit given under Income Tax Act 1961 for a person carrying on business ...........

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what will be the right answer

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updated kindly check

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Not anyone correct option. In my opinion correct value would be one crore

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it is 1 crore

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it has been further ammended for A.Y 2021-22 TO 5 Crores 2021-22. However, the increased threshold limit of Rs. 5 crore shall be applicable only when cash receipt and payment made during the year does not exceed 5% of total receipt or payment, as the case may be.

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