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No d profit above 6
last year i filed return in regular assesment but profit shown is below presumptive limit.no audit is done.what will be the issue in future..??pls reply thanks in advance
Replies (2)
Quick Summary
In this case Audit is only required when you discontinue filing your return in 44ad before 5 continuous years. If you never filed your return before in 44ad and your turnover is less then 1 cr then no audit is required even you are showing your income less than presumptive limit.
My turnover was 1.13 cr..
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