Tax audit applicable or not
Querist : Anonymous
If it is covered under definition of eligible business under section 44AD, then yes audit is applicable as your profit is less than 8% and in excess of exemption limit
But with turnover of Rs.52 lacs you have to show profit of atleast 8% i.e Rs.416000/- under section 44AD.
But if you want to show profits less than Rs.416000/- then you have to go for audit under section 44AB, optionally
Querist : Anonymous
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