Income tax law states that
For applicability of sec 44 AB
1) Assessee must have turnover above Rs 1 crore.
2) Assessee having turnover of less than Rs 1 crore and declares profit less than 8% of turnover +
Total income exceeds maximum amount not chargeable to tax = Do Audit .
But if Assessee is having Business loss + Total income doesn't exceeds Maximum amount not chargeable to tax = No Audit is required.
BUSINESS LOSS + Total income below BEL = No Audit is required .