Regarding 5 year audit must

Dear seniors

plz clear me a doubt of if a person audit one time than he would be liable for continuous 5 year audit.
Replies (4)
Quick Summary
This discussion clarifies the 5-year audit rule in India. It explains that if you opt for presumptive taxation under Section 44AD, you must maintain it for five years. If you choose to maintain regular books of accounts instead of presumptive taxation, the audit requirement is based on your annual turnover. The user is seeking clarification on their specific situation after auditing their accounts for three consecutive years.

If the person opts for presumptive taxation under section 44AD then the person should maintain it for 5 years.
otherwise audit is based on turnover during the year.
Sir since a.y 2013-201r i declared income in proper books of accounts maintained instead of persumptive basis but in A.y 2018-2019 i audited my books of account for showing profit less than 8%.
continuous 3 year i audited my accounts now plz clear my doubt
AY 2013-20???
Sry sir a.y 13 14

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details