Tax Audit is applicable u/s 44AB to individual tax payers in case of income from Business/Profession.
Income from Business
| Turnover | Profit >= 6% | Profit < 6% (Including Loss) | Cash Payments > 5% | Cash Receipts > 5% |
| Upto 25 Lakhs | Not Applicable | Applicable | Not Applicable | Not Applicable |
| 25 Lakhs to 1 Cr | Not Applicable | Applicable | Not Applicable | Not Applicable |
| 1 Cr to 2 Cr | Not Applicable | Applicable | Applicable | Applicable |
| 2 Cr to 5 Cr | Not Applicable | Not Applicable | Applicable | Applicable |
| Above 5 Cr | Applicable | Applicable | Applicable | Applicable |
Income from Profession
| Turnover | Profit >= 50% | Profit < 50% (Including Loss) |
| Below 1.5 Lakhs | Not Applicable | Applicable |
| 1.5 Lakhs to 50 Lakhs | Not Applicable | Applicable |
| Above 50 Lakhs | Applicable | Applicable |
Read more about Tax Audit of Trading Income
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