Section44 audit

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Querist : Anonymous

Querist : Anonymous (Querist)

10 December 2017 I have suffered loss in f& o. is it compulsory to audit my account if my turnover I less tn 1 caror

CA R SEETHARAMAN (Expert)
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11 December 2017 Audit not required if you are having no taxable income.

Bhaskaran Chackrapani Warrier (Expert)
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11 December 2017 If the absolute value of profit and loss> Rs.1 crore per annum , 44AB(a) audit is
required irrespective of profit or loss.

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