Comment on Intro to "Q" - next generation backoffice system

Sandeep commented on 18 Nov 2014, 02:59 PM

In q, Tax P&L it says
Where, audit is required if
If turnover < 1 crore and profitability is less than 8% of turnover (Section 44 AB)

So my doubt is
If my total turnover is 5000 and net profit is 50 do I need to audit my account?

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