Private limited tax audit

For a private limited company with a turnover of ₹62 lakh, a tax audit under Section 44AB is not mandatory because its turnover is below the ₹1 crore threshold, and corporate entities are ineligible for presumptive taxation schemes.

Under the Income-tax Act 1961 (FY 2025-26, AY 2026-27), a tax audit under section 44AB is not needed on these facts.

- 44AB(a) applies when business turnover is above Rs 1 crore (Rs 10 crore if cash receipts and cash payments are each 5% or less of the total). At Rs 62 lakh you are below the limit.
- Presumptive tax under 44AD is not available to a company, so the 8% profit does not trigger the 44AB(e) audit route either.
- TDS deducted under 194JB has no link to the tax audit requirement.

Separate point: a company still needs its statutory audit under the Companies Act, plus ROC filings (AOC-4, MGT-7) and ITR-6, whatever the turnover.

For FY 2026-27 onward the Income-tax Act 2025 renumbers sections, so confirm the new section number when you cite it.

This [tax audit due date guide](https://taxgarden.in/blog/due-date-filing-tax-audit-report-section-44ab-india-2026) lists the thresholds and filing dates.

"Our Private Limited Company provides professional services, and TDS is being deducted under Section 194JB. TURNOVER is 62 lakh and   our profit margin is 8%, is a tax audit mandatory or not?

If you company pvt ltd , and turnover is 62 lakh, Tax audit not applicable 

For a private limited company whose turnover is ₹ 62 lakh, which is below the ₹1 crore threshold, a tax audit under Section 44AB is not mandatory for such companies. But the company needs a statutory audit under the Companies Act. Thinking Bridge's experts provide detailed information about Statutory audit, internal audit, FP&A, IND AS, FMV, and M&A.