Tax audit
This query is : Resolved
30 September 2015
My turnover for the year is 35 lac. Profit is rs. 1000/- other income Rs. 65000/- Whether I will require my accounts audited ? Under which ITR return should be filed by me? Please advise
CA Mehta Ankur N.
(Expert)
30 September 2015
who r u ? Individual HUF or what ? If you are individual or HUF then no need to get books of accounts audited. You hsould file ITR - 4
26 July 2025
Hey! So for your case:
* **Turnover:** ₹35 lakhs
* **Profit:** ₹1,000
* **Other Income:** ₹65,000
### Tax Audit Applicability:
* Under **Section 44AB**, tax audit is required if turnover exceeds **₹1 crore** (₹50 lakhs for some professions), or if the presumptive taxation under Section 44AD is not opted and turnover is above ₹1 crore.
* For your turnover of ₹35 lakhs, **tax audit is NOT required**.
### Income Tax Return to file:
* You should file **ITR-3** (if you have business income and other income).
* Since you have business income (turnover and profit) and other income, ITR-3 is appropriate for individuals/partnerships having business or profession income.
---
Let me know if you want help with filling the ITR or anything else!
* **Turnover:** ₹35 lakhs
* **Profit:** ₹1,000
* **Other Income:** ₹65,000
### Tax Audit Applicability:
* Under **Section 44AB**, tax audit is required if turnover exceeds **₹1 crore** (₹50 lakhs for some professions), or if the presumptive taxation under Section 44AD is not opted and turnover is above ₹1 crore.
* For your turnover of ₹35 lakhs, **tax audit is NOT required**.
### Income Tax Return to file:
* You should file **ITR-3** (if you have business income and other income).
* Since you have business income (turnover and profit) and other income, ITR-3 is appropriate for individuals/partnerships having business or profession income.
---
Let me know if you want help with filling the ITR or anything else!
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