What if turnover is less than 1 cr and profit is <8%??
tax audit applicable?
If business is eligible u/s. 44AD, then yes (assuming profit margin less than 6/8%.)
2 Replies
Kapadia Pravin
(17264 Points)
Replied 20 August 2019
if your turnover receipts are in digital mode then under 44AD minimum 6% profit requirement. If turnover is both in cash as well as digital mode then 6% and 8% respectively. Failing these %ages Tax Audit must
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