‘Tax audit is a penalty for...’: Financial advisor says cash-heavy businesses face greater risk in 2026

Under Section 44AB of the Income Tax Act, businesses are generally required to undergo a tax audit if turnover exceeds ₹1 crore. However, the CA highlighted that the effective threshold can rise sharply to ₹10 crore if both cash receipts and cash payments remain below 5% of total transactions.

Go to News Site