Audit Applicability

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344 Points Posted on 20 April 2020
Hello Experts, Is Audit Applicable if my client Turnover is less than 1 Crore and profitis less than 6%. please suggest
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On 20 April 2020 at 11:35 Report
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This discussion clarifies audit applicability for businesses with turnover below 1 crore and profit below 6%. Generally, an audit is not required in such cases, provided proper books of accounts are maintained as per section 44AA. However, if your income exceeds the basic exemption limit and is less than 6% of your turnover, an audit may become applicable.

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42 Points Posted on 20 April 2020
Audit is not applicable, but you have to maintain proper books of accounts as per 44aa.
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On 20 April 2020 at 13:12
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24 Points Posted on 20 April 2020
If the income is crossing the basic exemption limit and it is less than 6% of turnover. Then audit is applicable.. otherwise it is not applicable..
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On 20 April 2020 at 16:35

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