LatestAccounting And Audit 2 July 2026
Tax Audit Mandatory
The income tax audit is required for stock traders and the raised threshold limit of Rs 10 crore shall be applicable if cash receipts and cash payments during the year are less than 5 percent of total receipts and payments, stock traders need to be aware of the new rules for the financial year 2026-27, the income tax audit is mandatory for certain individuals and businesses
The income tax audit is required for certain individuals and businesses. *Key points to note*:
- The raised threshold limit of Rs 10 crore shall be applicable if cash receipts and cash payments during the year are less than 5 percent of total receipts and payments
- Stock traders need to be aware of the new rules for the financial year 2026-27
- The income tax audit is mandatory for certain individuals and businesses, including those with turnover above the specified limit
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