My client has turnover of 65 lakhs and his actual net profit is below 2.5 lakhs per annum and if he opts for ptt then his income would be 5.20 lakhs. So if he show his income below 2.5 lakhs whether tax audit is compulsory?
but as per the provisions if the income under normal provisions does not exceed 2.5 lakhs and turnover does not exceed 1 crores tax audit will not be applicable
CAclubindia
