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Is audit is mandatory in that case ?

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 January 2012 Dear expert,
Plz clear my confusion,In A.Y.2010-2011 a firm got audited its Profit & loss A/c and B/s under sec44AB even turnover is 35 lacs( below 40lacs) but in A.Y.2011-2012 its turnover is 40 lacs( below 60 lacs) and net profit is 3.5 lacs( more than 8%of sales ), now clear me wheather here audit neccassary because it has audited last year
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Ravikant

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Ravikant (Expert)
14 January 2012 No, Tax Audit is not required as turnover is below the Limit, it was not required in earlier AY also.
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