I AM WORKING AT SOLE PROPRITORSHIP FIRM.
WE HAVE FILED IT RETURN U/S 44 AD, IN FINANCIAL YEAR:2021-22[6% OF TURNOVER]
BUT IN THE FINANCIAL YEAR:2021-22, WE WANT TO DECLARE THE PROFIT LESS THAN 6% OF TURNOVER AND TURNOVER IS MORE THAN 1 CRORES BUT LESS THAN 2 CRORES.
IN THIS CASE IS IT NECESSARY /ESEENTAIL TO GET BOOKS OF A/CS AUDITED?
I UNDERSTAND THAT THE RECENT AUDIT TURNOVER LIMIT IS 10 CRORES[WITH LESS THAN 5% RECIPT /PAYMENTS ARE THROUGH MODE OTHER THAN DIGITAL MODE.
I REQUEST CLARIFICATION BY EXPERTS IN THIS MATTER.
REGARDS & THANKS.
FROM:MITESH SHAH]
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