Audit required or not???

No audit is not applicable

Sourav sir, please pura clarify kre koi section ya koi case.... kyunki muje isme kafi confusion hai... kafi alag alag views bhi mil rhe hai

My view is audit required because under sec 44ab condition follow

If you're opting for presumptive taxation u/s 44AD and turnover is less than 2 crores rupees and profit is 8% on turnover then Audit is not required.. Whether you have opted for presumptive taxation??

Thanks sir

As per my opinion Audit is required only if

Turnover exceeds Rs. 1 crore OR

Turnover exceeds Rs. 2 crore in case the assessee has opted for presumptive taxation under 44AD OR

IF OPTED for 44AD, assessee has shown profit less then 8% or 6% as the case may be.

but if the turnover is less than one crore and not opted for 44AD then no audit is required. But in this case Full balance sheet and profit and loss account shall be prepared and ITR-3 should be filed.

This is my view. Other views are welcomed (if any).

You're correct Lotus

Thank you so much everyone.. thank a lot

You're welcome.

Your welcome