Tax audit requirements for individual

This discussion clarifies tax audit requirements for individuals with a business turnover under 1 crore and a declared profit below 8%, especially when not opting for Section 44AD. Generally, if profit is below the presumptive taxation scheme's threshold (8% for non-digital, 6% for digital income), a tax audit becomes mandatory unless it's the first year of business operations. If Section 44AE or 44ADA is applicable, different rules apply.