Audit Applicable

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39 Points Posted on 04 September 2021
Please clarify if my turnover is less than 1 crore and my profit is less than 8% then do I have to get my accounts audited and I am not opting presumptive taxation
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On 04 September 2021 at 15:10 Report
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Quick Summary
This discussion clarifies whether an audit is required for businesses with a turnover under 1 crore and a profit margin below 8%, provided they are not opting for presumptive taxation. The consensus is that under these specific conditions, an audit is not applicable.

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CMA
13117 Points Posted on 04 September 2021

No, audit is not applicable.

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On 04 September 2021 at 15:12
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Chartered Accountant
24588 Points Posted on 05 September 2021
No audit is not applicable
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On 05 September 2021 at 08:03

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