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Applicability of tax audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 September 2017 Dear Experts.
We are proprietary concern firm in FY 2016-17 our turnover is 27 Lacs however our net profit is 116649@4.32%

Pls let me know in this scenario income is chargable to tax but NP is also below 8% so whether Tax audit will be applicable or not?

Thanks
Mukesh chauhan
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
04 September 2017 If you file your return as individual than not liable for audit because your income is below taxable limit
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