Tax Audit for professional

This discussion clarifies tax audit requirements for professionals whose income from profession is less than INR 75 Lakhs and who are not opting for presumptive taxation under Section 44ADA. It explains that if such professionals choose to maintain books of accounts instead of declaring at least 50% of their receipts as professional income, they will be subjected to a mandatory tax audit as per Section 44ADA(4) read with Section 44AB(d). The consensus is that a tax audit is generally preferred in such scenarios.