TAX Audit required


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This discussion clarifies whether a tax audit is necessary for a business with total sales of Rs. 49,50,000. It's generally not required if Section 44AD wasn't opted for in the last five years. However, this exemption is conditional on at least 95% of transactions being conducted digitally.

01 September 2021 dear Sir

Total Sale Rs.4950000/- GP is 7.94 and NP is 6.25% Tax audit is required or note Please suggest

01 September 2021 Tax audit not required in case 44AD not opted in earlier 5 years.

02 September 2021 Agreed, provided 95% or more of the transactions were in digital mode.


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