Tax audit under which clause
This query is : Open
12 July 2018
Turnover: 90 lakhs
Profit : 5% (less than 8%)
Assessee : Individual
FY 2017-18 AY 2018-19
Books of accounts Maintained
Not in presumptive category business
Net income More than basic exemption limit
So, do i have need to get my books audited as per IT act? if yes under which section??
Profit : 5% (less than 8%)
Assessee : Individual
FY 2017-18 AY 2018-19
Books of accounts Maintained
Not in presumptive category business
Net income More than basic exemption limit
So, do i have need to get my books audited as per IT act? if yes under which section??
12 July 2018
Audit is not mandatory.
13 July 2018
Thank You sir. Kindly also clarify is it mandotry to do audit u/s 44AD as my profit is under 8%.
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