Auditguru Auditguru Frequently Asked Questions(FAQ) Auditguru Auditguru
 Meet Us Here
VaibhavVaibhav asked 12 months ago

If there’s an assessee having TO below the limits applicable for tax audit 
He has prepared complete books of account(no intention to opt for presumptive scheme us 44AD)
His net profit is lower than 8/6% (assuming his profit comes out to 3-4% after preparation of BOA
Sir what will be the applicability of tax audit in this case? Also what would be the case in case of professionals.
 

1 Answers
RaviRavi Staff answered 11 months ago

if he has to show profits below 8% / 6% limits
he needs to get books audited
audit not required if profits are not crossing basic exemption limit

Call Back Request