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If an assessee doing business or profession if his income is less than 8% of turnover or gross receipts then tax audit is compulsory. While calculating 8% if the income itself is below taxable limit tax audit is not necessary.
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If an assessee doing business or profession if his income is less than 8% of turnover or gross receipts then tax audit is compulsory. While calculating 8% if the income itself is below taxable limit tax audit is not necessary.
Check the new amendment. There is change.
Agree with Suresh Pai S view.
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