Tax audit

tax audit mandatory if turnover more than 1 Crore

I agree with Shubham. Further, turnover is not the only criterion for the purpose of tax audit. Even if gross receipts are >1 crore, then tax audit would be applicable. So if gross receipts is <=1 crore (in your case), then tax audit would not be applicable.

I agree with Poornima ji

Company means Private Limited or Public Limited Company not Proprietorship firm
if turnover or gross receipt in business for the year exceed 1 crore, then tax audit under section 44AB is mandatory .

Even if turnover is less than 1 crore and the assessee is offering income less than 8% of turnover,then tax audit is mandatory.Isn't it????

agree with MNS Karthik Reddy.

if you are offering profit less than 8% of turnover and you are an assessee who is eligible u/s 44AD then tax audit is compulsory. in case your total income don't cross exemption limit then no need to do tax audit.

But 44AD is not applicable to Companies

very sorry. question was about company. Agree with Poornima Madhava . section 44AD is not applicable for Companies. so here no need of tax audit.

Thank u all for valuable information and one more query our's is pvt. ltd company and we filled tax audit up to 2011-2012 after that we didn't file income tax returns due to some disputes among directors. now shall we file from 2012 -13 on wards The company is in loss and turnover is less than one crore and gross receipts also.