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Regarding 5 year audit must

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Accountant
52 Points Posted on 22 March 2021
Dear seniors

plz clear me a doubt of if a person audit one time than he would be liable for continuous 5 year audit.
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On 22 March 2021 at 10:22 Report
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Chartered Accountant
24588 Points Posted on 22 March 2021
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.
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On 22 March 2021 at 10:46
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Accountant
52 Points Posted on 22 March 2021
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
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On 22 March 2021 at 11:07
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Chartered Accountant
24588 Points Posted on 22 March 2021
AY 2013-20???
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On 22 March 2021 at 14:25
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Accountant
52 Points Posted on 22 March 2021
Sry sir a.y 13 14
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On 22 March 2021 at 14:31


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