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Audit applicability

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(Querist)
03 August 2018 IF MY GROSS TURNOVER EXCEEDS 1 CRORE AND MY PROFIT PERCENTAGE IS ALSO LESS THAN 8%, UNDER WHICH SECTION I'M LIABLE TO DO TAX AUDIT ?
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Thiyagarajan Kandasamy

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Thiyagarajan Kandasamy (Expert)
03 August 2018 ITR 4 with proper P&L Balance Sheet finalized by Auditors
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Mayur Mandli Prajapati

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Mayur Mandli Prajapati (Querist)
03 August 2018 I WAS ASKING ABOUT THE SECTION IN WHICH I AM LIABLE TO CONDUCT TAX AUDIT .
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
03 August 2018 Sub section (5) of section 44AD gives an option to the assessee to declare profit lower than 8% / 6%, by maintaining books of account etc. as required under section 44AA and by furnishing audit report as required under Section 44AB.

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