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Audit Applicable or not?

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2011 Dear Sir,

I have business turnover of Rs.45,00,000/- during the f.y.2010-11 & profit earned Rs.152000/-.

8% of turnover is not earned so audit is applicable or not?

please reply

thank you
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CA KRISHNA KUMAR DARUKA

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CA KRISHNA KUMAR DARUKA (Expert)
20 June 2011 As your total income is not exceeding maximum amount not chargeable to tax, you are not liable for tax audit u/s 44AD.

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