audit 2018.19

yes complusory 

Audit is requried as per  section 44AB of the  income tax act 1961 

Audit  limit  2 Cr  is for  GST  audit 

it is under  presumptive scheme 

1) If total sales, turnover or gross receipts exceeds Rs. 1 Crore in any previous year, in case of business; or

Note: Provided that this section is not applicable to the person, who opts for presumptive taxation Scheme under Section 44AD and his total sales or turnover does not exceed Rs 2 crores.

2) If gross receipts exceeds Rs. 50 Lakhs in any previous year, in case of profession.