Tax Audit on company having loss and turnover below 1 crore

Devansh Sharma (94 Points)

11 July 2023  
Hello Members,

Kindly clarify if any private limited company is having business loss as well as book loss, however turnover is below 1 crore and maintains books of account and having all 100% transactions either receipt or payment via. Banking channel only.

Is a tax audit applicable to the same company.