Tax audit in required or not in case of a private limited company having turnover less then 1 crores. Please guide in light of last proviso to section 44AB of Income Tax Act 1961, reproduced as below -
Provided also that in a case where such person is required by or under any other law to get his accounts audited, it shall be sufficient compliance with the provisions of this section if such person gets the accounts of such business or profession audited under such law before the specified date and furnishes by that date the report of the audit as required under such other law and a further report by an accountant in the form prescribed under this section.
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