TAX Audit
This query is : Resolved
18 November 2020
Dear sir,
Since Two Years i Have filled My IT Return Without Audit because of less Turnover
But This fy 2019-20 Turnover is 1.5cr so is it compulsory to Audit ?????
Once If i Filed Audit then every year to Audit or not ???
Please Suggest
Thank in Advance
Since Two Years i Have filled My IT Return Without Audit because of less Turnover
But This fy 2019-20 Turnover is 1.5cr so is it compulsory to Audit ?????
Once If i Filed Audit then every year to Audit or not ???
Please Suggest
Thank in Advance
CA R SEETHARAMAN
(Expert)
19 November 2020
It's compulsory for audit as turnover exceed 1 crore. To avoid audit opt 44AD declare 8% profit.
Every year audit is not compulsory when turnover is below 1 crore.
Every year audit is not compulsory when turnover is below 1 crore.
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