Tax audit report

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629 Points Posted on 22 September 2020
Sir,

my gross profit is 6.31% and net profit 8.91% Please advise can we need for tax audit.
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On 22 September 2020 at 21:29 Report
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This discussion addresses whether a tax audit is required for a business with a turnover of Rs 795,6231/- and profit margins of 6.31% gross and 8.91% net. Generally, a tax audit is mandatory if a business's sales, turnover, or gross receipts surpass Rs 1 crore in a financial year.

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12244 Points Posted on 23 September 2020
What's your total turnover
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On 23 September 2020 at 02:14
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629 Points Posted on 23 September 2020
Sir, my turn over is Rs. 7956231/-
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On 23 September 2020 at 08:41
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200 Points Posted on 23 September 2020
A taxpayer is required to have a tax audit carried out if the sales, turnover or gross receipts of business exceed Rs 1 crore in the financial year. 
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On 23 September 2020 at 10:55

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