Question ID :
In AY2020-21 assessee filed his return of income after getting tax audit done under proviso of Sec44AB(d) as his net profit was Less than 8%. Now in AY2021-22, the assesse has incurred loss/profit below 8%, and his total income below taxable income.
1. Is tax audit is required for AY2021-22.
2. If other income exceeds taxable limit whether tax audit is required
Answer ID :
Dec 15, 2021
If total Income less than Basic exemption limit then audit not required otherwise audit should be done.
VINAY BHARGAV KUMAR G on
Dec 24, 2021