04 March 2015
Dear expert i am running proprietor ship firm. having turn over below 1 cr. but the net profit is 7.68%. plz. guide me in which condition audit need to be conduct.
04 March 2015
If you want to claim lower profit ie, below 8% and your total income exceeds the basic limit , you have to maintain books of accounts compulsorily and get audited.
CAclubindia
