IS AUDIT APPLICABLE ???

VISHAL JAIN (Self Employeed) (169 Points)

01 September 2021  

I have Client who from F.Y 2016-17 to F.Y 2018-19 has filed ITR-3 showing profit above 8% but not opting for sec 44AD

For F.Y 2019-20 audit was done Turnover was 1.4Cr. profit shown 6%

Now as per the new scheme of govt of 5% cash receipts & payments

My Turnover is 1.5cr. and profit is 7% and upto 95% transaction are digital do i require to get audit.