Tax audit

Thank u for d response, in case assessee turnover is less than 1 cr and dere is a loss in d firm whether there will be a need of tax audit as per d provision of sec44ad read with sec 44ab

Even if the turnover is less than 1 crore, a tax audit is applicable if the assessee income is less than 8% of gross receipts/income. Section 44AD will be applicable to all businesses except plying, hiring or leasing of goods as it is covered under section 44AE.

Please refer the below link

https://www.charteredclub.com/section-44ad/