Audit limit

If the Assessee opts for declaring income lower than 8% then in that case the assessee shall have to keep and maintain books of accounts and get its accounts audited by a Chartered Accountant.

No tax audit is not mandatory.

as section 44 AB is not apply simultaneously section 44 AD is not applicable In case of company.

conclusion turnover below 1 crore no need of audit and minimum profit.

However company audit is mandatory.

If any (consultancy) partnership firm trunover is above 25 lakh and profit percentage is below 8% for the F.Y. 2015-16, so is it mandatory for tax audit?

 

Sec 44AD not applicable to Companies.

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