Tax audit for construction company
Querist : Anonymous
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
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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