Tax audit turnover threshold limit increased to 5 crores Rupees for business (Amendment of section 44AB of the Act). (A) in clause (a),–– (i) the word “or” occurring at the end shall be omitted; (ii) the following proviso shall be inserted, namely:–– Tax audit turnover threshold limit increased to 5 crores rupees for business. ‘Provided […]
Tag: tax audit limit for ay 2020 21
Key Highlights of Budget 2020 (Announcements) with copy of Union Budget
Key Highlights of Budget 2020 (Announcements) Budget Income Tax Announcements Income Tax Rate 10% income tax rate for Income between 5,00,000.00 -7,50,000 Rupees 15% income tax rate for Income between 7,50,000 -10,00,000.00 Rupees 20% income tax rate for Income between 10,00,000.00 -12,50,000.00 Rupees 25% income tax rate for Income e between 12,50,000.00-15,00,000.00 Rupees Incomes above […]