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AuthorQuestion Title
S N TRIVEDI
VARANASI
REQUIREMENT OF AUDIT -TURN OVER BELOW RS 10000000

If Turn Over in Account is Rs 95 Lacs and NP is below Taxable Limit i.e. Rs 192000 Whether Audit
U/S 44AB is required?
Replies
CA ANIL KUMAR SINHA
GAYA
Mr. Anil Shah is correct and this is required to be followed while deciding for Audit under section
44AB.wording of section 44ab says that you are suppose to disclose either 6 % of turnover in case
of turnover of sale by cheque or 8% in case of cash sales turnover of Net Profit if the net
profit is below the limit you have to compulsory required to audit under 44ab of the act.the
wording use is assessee.

RAMESH SATHE
PUNE
WHAT IS LIMIT OF GST AUDIT AND DUE DATE OF ANNUAL RETURN UNDER GST ACT?

ANIL H SHAH
MUMBAI
wording of section 44ab says that you are suppose to disclose either 6 % of turnover in case of
turnover of sale by cheque or 8% in case of cash sales turnover of Net Profit if the net profit
is below the limit you have to compulsory required to audit under 44ab of the act.the wording use is
assessee.

Shiv Nandan Sharma
New Delhi
If the profit is less tha 6% for turnover through banking system (Cheque/dd/rtgs) and 8% for cash
turnover... In the given case the profit is just 192000 , The Audit is required

S .Ravikumar
Tirupattur Tamilnadu
Audit is not required since the net profit is below the taxable limit.

Sunil T P
Bangalore
If the once is below 8% of turnover then audit is compulsory only when such income exceed maximum
amount not chargeable to tax

CA B R Patel
HARDA (MP)
If Total Turnover of 95.00 Lacs and assuming all Cash turnover - in that case you must show 8% of
T.O. net profit of Rs.760000 otherwise you need to get your books of account audited u/s.44ab

S vijayarani
Dindigul
As I am CA inter passed can I filed income tax returns to my client s which is not come under
taxable audit

S vijayarani
Dindigul
Which is not come under taxable audit and which income categories can filed without auditor signed

AMOD SHUKLA
Unnao
Audit U/s 44 AD REQUIRED ONLY WHEN YOU HAVE TAXABLE INCOME . iN THIS CASE AUDIT NOT REQUIRED

SANJAY PODDAR
JORHAT
Audit not required in case of Individual as NP Rs 192000 is less than amount which is not taxable
( Rs 250000 i.e basic exemption limit In case of Firms it is auditible

vikrant doshi
mumbai
first you need to check the turnover in Chq and turnover in cash - apply min 6% np on chq turnover +
8% on cash turnover. In given example if total turnover of 95L and assuming all chq turnover - in
that case you must show net profit of Rs.570000 otherwise you need to get your books of account
audited u/s.44ab

CA. Satish Rao
Mumbai
If the Income below 8% of turn over, then audit is must. even if income is below taxable limit.

Manoj
KOLHAPUR
Audit not required in case of Individual as NP Rs 192000 is less than amount which is not taxable (
Rs 250000 i.e basic exemption limit In case of Firms it is auditible


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