44Ab audit

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1 Points Posted on 19 November 2020
below 1 crore if profit below 8% 44AB is mandatory or not
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On 19 November 2020 at 07:02 Report
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This discussion clarifies the requirements for a Section 44AB audit. If your business turnover is below 1 crore and your profit margin is less than 8%, an audit is generally not mandatory. However, this exemption applies if you haven't previously claimed the benefits under Section 44AD.

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No.

If you had not claimed the benefit of 44AD earlier.

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On 19 November 2020 at 11:00
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Accountant
3662 Points Posted on 19 November 2020
Audit is not required
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On 19 November 2020 at 15:08

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