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Audit

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(Querist)
13 September 2017 Sir,

My one client turnover below rs. 1 Crore and also declare income more than 8% of turnover. but he still wants to audit his account. can we do so? if yes, then under which section it would be audited? please reply fast?
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
13 September 2017 As per me audit is not possible under income tax act for your client under income tax act, rather he can carried out audit of its own motion but he is not required to file the audit report to any statutory body
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
13 September 2017 There is no provision in IT for audit in such cases as no provision of Sec 44AB is fulfilled in given case.
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