Audit is applicable
This query is : Resolved
28 February 2018
sales turnover 50,00,000
Expenses 47,50,000
net profit 2,50,000
Individual required to get his accounts audited ? is net profit less than 8%
and also individual maintain books of accounts.
Please tell me audit is applicable or not in this case
Expenses 47,50,000
net profit 2,50,000
Individual required to get his accounts audited ? is net profit less than 8%
and also individual maintain books of accounts.
Please tell me audit is applicable or not in this case
01 March 2018
Yes as the net profit is less than 8% / 6%, Tax Audit is applicable. You are also required to maintain books of accounts.
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