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Applicability of 44AD for Firms

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(Querist)
23 March 2023 A partnership firm opted 44AD in 2020-21.
But not opted 44AD in 2021-22

As per 44AD(4) the firm is not eligible for 44AD for next 5 years.

Weather tax audit is required for 2022-23 in the following 2 cases:

1. Turnover 80 Lakhs and Net Profit is 10 lakhs in 2022-23.
2. Turnover 80 Lakhs and Net Loss is 5 lakhs in 2022-23.

Reply me with reasons
Pls anyone help me
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
23 March 2023 1 Tax audit not required as profit declared more than 8%.
2 Tax audit not required as no taxable income declared

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