Tax audit for construction company

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2016 Experts,

I am running a pvt ltd construction company having turnover of Rs 46 Lac & my net profit is 45 . Do i need to get tax audit under income tax act.

Querist : Anonymous

Querist : Anonymous (Querist)

08 August 2016 Any help ?????????

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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26 July 2025 For a construction company, tax audit under Section 44AB applies if the turnover exceeds Rs 1 crore (for assessment years after AY 2016-17, the limit was raised from Rs 60 lakh to Rs 1 crore).

Since your turnover is Rs 46 lakh, **you are NOT required to get a tax audit done** under the Income Tax Act.

Also, having a net profit of Rs 45 lakh on Rs 46 lakh turnover is quite high, but profit amount doesn't trigger tax audit—turnover does.

**Summary:**

* Turnover Rs 46 lakh < Rs 1 crore threshold → No tax audit required
* Net profit does not trigger tax audit, only turnover does
* File income tax return as usual

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