banner_ad

tax audit requirement

375 views 2 replies
if my turnover is 80 lakhs and profit less than 8/6 %, whether tax audit is required in FY 18-19?

a. if I followed 44AD till FY 17-18, what will be your answer?
b. if I didn't followed 44AD, then what will be your answer?
Replies (2)
First of
Is Your business is eligible u/s 44ad...?
a. If you continue to follow 44AD for FY 18-19, audit is compulsory.

If you discontinue 44AD then No Audit but 44AD won't be allowed for next 5 years

b. Without 44AD that is under regular business income - there will not be Audit as well as no restrictions on profit %age. Books of account compulsory and ITR3 .


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details