Is Audit necessary

Rohit Tulshyan (RTProfessionals) (333 Points)

04 June 2011  

Suppose a firm has turnover of Rs. 75,00,000 and its income is Rs. 2,15,000 and after chapter VI-A deductions, the taxable amt is below the basic taxable limit i.e. 1,60,000.

So, is it required for the firm to get its accounts Audited and File its return or only Audit or only return or nothing is required.? Please tell the suitable option.

Thanks.