Question ID : 42195

Tax audit

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

If total Income less than Basic exemption limit then audit not required otherwise audit should be done.