dear sir,
my turnover is below 1 crore and I am not showing 8% profit so tax audit applicable to me or not
Yes,
even section 44Ab does not mention such special cases having t|o below 1cr and profit below 8%.
Same time applicability of audit is arises when your profit is lower than presumptive taxation scheme. i.e lower than 8% .
my recommendation is to do audit.
CAclubindia
