Tax audit u/s 44ab
This query is : Resolved
24 August 2018
Whether I am required to get my books audited?? if my net profit is below 8% and I m not opting for sec. 44AD and showing my income in business and profession head. My turnover is below 1cr. and upto last year my books are audited.
25 August 2018
Yes tax audit applicable if you have taxable income.
26 August 2018
Tax audit is applicable if you show less than 8% income on Gross Turnover.
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