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Is audit required on net profit ration below 8%

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(Querist)
08 November 2013 Dear Sir/Maim

My Annual Turnover is 10 lacs & Net Profit Ratio is less than 8 % (0.54%) so is required to audit my final a/c

rgds
Praveen Jain
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
08 November 2013 If you are opting presumptive income 8% u/s.44ad then audit is required in your case

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