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Tax audit is required ?
client maintain books of account . his profit from business is less than 8%. ( T/O - 68 L ) client is not interested to file income tax return ITR4S.
.He is interest to file return in IT4.
my question is whethere in this case Tax Audit is required?
Replies (5)
Yes the audit will be compulsory if the profit is less than 8% of the total turnover.
Yes, In this case tax audit required u/s 44ab.
YES, AUDIT IS REQUIRED
Yes, If Net Profit is less than 8% of the Turnover, the accounts should be audited
That is if any business incurred any loss then tax audit is mandatory what ever is the T/O
. If assesee file return in ITR 4 and T/O may be 10L tax audit is mandatory?
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