Tax filing and audit 2023-2024

No. Tax audit u/s. 44AB IT act not applicable.... i.e. it can not be done....

thank you for reply sir.

I am told having voluntary audit on this small turnover is good idea for less scruitny, etc. by IT Dept. Is that true? Should I get it done?

my previous ITRs were big (turnover 1cr+) when business was there, last financial year very less.

looking for suggestions to avoid any issues later.

Are you carrying on any profession as specified under sec, 44AA(1) IT act?

sir i provide IT services/consultations to customers.

Yes, in that case it is possible to audit your books of accounts u/s. 44AB(d) IT act., Check with your auditor.

sir is it advised to get voluntary audit done? Does that make things look better? does it avoid unnecessary scrutiny? thanks

You can get tax audit done and it would be as per rules.

sir also my resident status is nri. if still possible then kindly tell under which section audit is possible?

As said earlier Sec. 44AB(d) IT act...

sir i checked 44AB(d) IT act but found two definitions which is correct?

• If the gross receipts or turnover of a professional exceed the prescribed limit, currently set at ₹50 lakhs, they are required to get their accounts audited.
• If the professional profits are deemed under section 44ADA, and the assessee claims their income is lower than the deemed profits, and their income exceeds the maximum non-taxable limit, they need to get their accounts audited.

so how can do audit under this and which one is correct?

Second one is correct.

thanks sir, and with your experience is it advised to get audit done or it attracts unnecessary attention? specific to my itr.

It is advisable to get audit done.

I am not able to edit 80 TTA on ITR-1 today