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Audit liability

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(Querist)
24 May 2016 Hi ! I want to know in case of turn over reduced from 1 crore in subsequent year does audit is compulsory for subsequent year ? what is audit liability as per rules. Kindly advise.
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Rupesh Jain

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Rupesh Jain (Expert)
24 May 2016 not required, u/s 44AB pls read the section, but if trading then you cna taek audit reprot u/s 44AD due to profir below 8% of the sales .

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