MY CLIENT HAS TURNOVER BELOW 60 LAKHS SAY RUPEES 30,00,000/- AND SHOWN NET PROFIT OF RUPEES 45,000/-.AND MAINTAINS BOOKS OF ACCOUNTS. IS HE TO GET HIS ACCOUNTS AUDITED?


Admin’s Response:

In the circumstances mentioned by you, the audit would not be required as per the provision of section 44AA of the Income Tax Act 1961.