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Audit required or not

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 September 2015 Dear Sir,
Facts of the case as follows -

Sale- 7840000/-
Net profit - 298700/-
80C- 35400/-
TOTAL INCOME COMES TO - 263300/-
Tax Liability - 1330/-
Less Reabate u/s 87A - 1330/-
Tax Payable - 0/-

Whether the audit is required in above case or not ?

Please clarify.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
13 September 2015 Audit is required in view of declaration of less than 8% profit and total income is more than basic exemption limit.

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