Audit is applicable
This query is : Resolved
28 February 2018
sales turnover 50,00,000
Expenses 47,50,000
net profit 2,50,000
Individual required to get his accounts audited ? is net profit less than 8%
and also individual maintain books of accounts.
Please tell me audit is applicable or not in this case
Expenses 47,50,000
net profit 2,50,000
Individual required to get his accounts audited ? is net profit less than 8%
and also individual maintain books of accounts.
Please tell me audit is applicable or not in this case
CA Ashish Agrawal
(Expert)
01 March 2018
Yes as the net profit is less than 8% / 6%, Tax Audit is applicable. You are also required to maintain books of accounts.
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