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Audit under section 44AB in some cases
Sir due to the notices received under section 44AA If I filed returns making the profit and loss account Balance sheet, can I am liable to get the account audited under section 44AB please guide me thanks.
Replies (2)
Tax audit will be applicable only if it satisfies any criteria which is specified in the section 44AB, not otherwise.
No chance of audit applicability, if you declared the details of PGBP income with P&L acc & BS.
Audit will apply if margin is less than 8% or turnover exceeds 1 crore
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