Comment on Taxation Simplified
commented on
03 Aug 2013, 06:40 PM
Girish,
The answer to this question was given before adding the new changes on the blog. This year between June to now, many people received notices from the IT department and we found that this is because of change in section 44AD. So presently, if your turnover is less than 1crore and profit less than 8%, even then you need an audit.
You can read this blog for more.