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Tax Audit
if A.Y 2017-18 is turnover exceed prescribed limit of Rs. 1 Crore and to be audited but A.Y. 2018-19 is below 1 Crore so what to do to skip Tax Audit?
Replies (6)
Unless opted for sec. 44AD in preceeding year/s, tax audit u/s. 44AB not applicable when business TO is below 1Cr.
i opt sec 44AD in A.Y. 2018-19
Even if you opt for section 44AD in AY 2018-19. tax audit not applicable, but have to declare minimum 6/8% profit.
if we file Normally ITR3 so it should be maintain 8% or 6% profit Declare
Not mandatory ...
But if total income exceed BEL, audit may be asked for.
have you opted 44AD in any preceding previous years?? if yes then according to information given by you. it is liable for tax audit in AY 2018-19.
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