Audit book inquiry - urgent

Yes........

if our total turnover is rs. less than 60 lacs in f.y 2010-11

than audit is compulsorry or not 

please advised me

Regards

dev

Audit is compulsary only if the turnouver excees 60lacs.

This comes under tax audit.

The last date of filing of return is 30th September.

Originally posted by : Meenakshi . S
	Audit is compulsary only if the turnouver excees 60lacs. This comes under tax audit. The last date of filing of return is 30th September.

Thanks for advise

please if our profit % less than 8 % than audit is compulsory or not

If Net Profit is less than 8% of the turnover, then audit u/s 44AB is compulsory