Audit under section 44AB in some cases

This discussion clarifies when a tax audit under Section 44AB of the Income Tax Act is necessary. It explains that an audit is only required if specific criteria outlined in Section 44AB are met. Filing returns with a profit and loss account and balance sheet, and declaring PGBP income, generally means a Section 44AB audit is not applicable, unless certain thresholds like a margin below 8% or turnover exceeding £1 crore are met.