Below 8% net profit but turnover not exceed 1 crore

If your profit less then 6% or 8%  (of Turn Over) as the case maybe you must audit your accounts.

1. The only criteria for carrying out tax audit u/s 44AB is only when the T.O or the gross receipts of the firm exceeds Rs. 1 crore during the year. If not then there is no need to carry out a tax audit. 
2. Hence, in your case irrespective of your profit % if T.O or gross profit does not exceed Rs. 1 crore, tax audit u/s 44AB will not be applicable. 
Please correct me if the above solution has an alternative view. 

YES.. PLEASE READ SEC. 44AB(e)

No audit is required as advised by Mr. Raja.