Audit Criteria
Yes, here are the Audit criteria that determine whether a computer sales and services business is required to undergo a tax audit in India:
1. The gross receipts or turnover of the business must exceed Rs. 1 crore in the financial year.
2. The business must be a company, a limited liability partnership, or a Hindu undivided family.
3. The business must have been in the existence for at least two years.
4. The business must have claimed depreciation on any asset in the financial year.
5. The business has been assessed to tax in the previous year.
6. The business has been selected for audit by the Income Tax Department.
If a computer sales and services business meets any of these criteria, then it is required to undergo a tax audit.
The audit will be conducted by a chartered accountant who will verify the business’s financial records and ensure that all taxes have been paid correctly.
To visit: https://www.incometax.gov.in
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