Which option to select under Audit Information for business not requiring audit?

Caclubuser (Accountant) (98 Points)

21 August 2021  

Dear Experts,

In ITR-3- General Schedule- Audit Information, there is a question “Are you liable to maintain accounts as per section 44AA?” I am an individual assessee and the turnover of my business for the last financial year (FY 2019-20) is 30 lakhs and profit is 4 lakhs. Which option should I select for the above question – Yes or No?

Audit u/s 44AB or 92E is not applicable in my case.