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Audit compulsory or not

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(Querist)
26 June 2013 if i am individual assessee and my business turnover is 95 lakh and net profit is 2.5 lakh for the f.y. 12-13 then 44AB applicable or not and any other provision attract or not for the audit purpose
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CA.Vinita Gupta

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CA.Vinita Gupta (Expert)
26 June 2013 Since the Net Profit is 2.6% so it is covered u/s 44AB and liable to Tax Audit

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