Tax audit

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MANJUNATHA (Querist)
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03 March 2014 Sir,

If the assessee declared his Net income above 8% of the total Turnover( more than 1 crors ), he shall exempt from Tax Audit concept?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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03 March 2014 only if the turnover is below 1 cr and the assessee is as such covered under 44AD. If the turnover is above 1 cr, tax audit is compulsory

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