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Tax audit
if turnover one year above 1crore and another year below 1crore.In second case tax audit u/s44AB applicable are not.plz reply soon.thanku in advance.
Replies (2)
No its not required to get account audited u/s 44ab ,further if the turnover is less than 1 crore but profit is less than 8% of total turnover than he is required to get audited u/s 44ab due to 44ad
In Second Year When Turnover is Less Than Rs. 1 crore, that simply means no Tax Audit is required u/s 44AB For Second Year.
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