Audit Required under Income Tax

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43 Points Posted on 05 May 2020
Business turnover 90 lac

profit less than 4%

Books of account maintained

in above case audit is mandatory or not.

Return filled previous year under 44AD

it is individual assessee.
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On 05 May 2020 at 13:32 Report
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Quick Summary
If your business turnover is £90 lakh and your profits are less than 4%, an audit of your books of account is mandatory. This applies even if you previously filed under Section 44AD. You must get your accounts audited to comply with Section 44AB clause (e) of the Income Tax Act.

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"Do the Right Thing...!!!"
128157 Points Posted on 05 May 2020
Yes As per Your query audit is required.
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On 05 May 2020 at 14:14
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*****Accountant***** Never insult to a
1448 Points Posted on 05 May 2020
Yes u have to get audit your book of accounts...
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On 05 May 2020 at 15:38
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Student CA IPC / IPCC
24 Points Posted on 08 May 2020
Yes Audit is required as per sec 44AB clause (e)
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On 08 May 2020 at 12:07

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