Net sales = 65 Lakh
Profit = only 2.5% of net sales
Tax audit Required or Not ???
Turnover less than 1 crore & net profit less than 8
narendra surjiya (1 Points)
22 July 2021narendra surjiya (1 Points)
22 July 2021Net sales = 65 Lakh
Profit = only 2.5% of net sales
Tax audit Required or Not ???
CA Rashmi Gandhi
(Chartered Accountant)
(86220 Points)
Replied 22 July 2021
CA Raj Doshi
(Practising CA)
(8723 Points)
Replied 23 July 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 23 July 2021
Lalit Singh
(accounts manager)
(29 Points)
Replied 14 September 2021
If previous years you declare your income in sec 44AD then tax audit required. Otherwise no need to be tax audit after fiance act 2016.
See rule sec 44ad (4/5)
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