44AB Audit necessacity

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ARTICLE
42 Points Joined May 2013
Is 44AB Applicable for turnover less than 1crore and net income of 1lakh for existing assessee previous years audited under 44AB
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On 04 January 2021 at 16:33 Report
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Chartered Accountant
24588 Points Joined November 2019
No 44ab is not applicable if turnover is less than 1 crores rupees and the income is less than basic exemption limit
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On 04 January 2021 at 17:11
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51 Points Joined July 2018
No 44AB is not applicable
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On 04 January 2021 at 19:40
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STUDENT
1631 Points Joined August 2017
You can choose , but not mandatory , its optional !

If turnover above 2 crores , sec .44AB attracts
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On 04 January 2021 at 22:12
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Tax consultant
5895 Points Joined September 2020
It's optional
below exemption limit then no need of audit
but if you maintain Account only make financial statement
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On 04 January 2021 at 23:22
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Accountant
10 Points Joined January 2021

is 44AB is applicable for less 1 crores turnover FY- 2019-2020 TO 2021

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On 07 January 2021 at 11:12


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