TaxTMI 
TaxTMI 
In FY 16-17 we filed Income Tax Return u/s 44AD, In FY 17-18 turnover was 3cr so we Filed Tax Audit. Now in FY 18-19 our Turnover is 1.75 CR, We are liable to Tax Audit.? or We can File Income Tax Return U/s 44AD.?
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TAX- AUDIT FOR FY 18-19
03 Aug 2019 
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Presumptive taxation under section 44AD may determine whether a business must undergo a tax audit when turnover fluctuates.
A taxpayer asked whether returns for the year may be filed under presumptive taxation given current turnover below the presumptive ceiling after a prior year that required audit. Contributors observed that the presumptive scheme's turnover test relates to the previous financial year and offered contrasting views: one stated that audit applies when turnover exceeds a business threshold and professionals face a lower audit threshold; another maintained that if presumptive taxation applies, no tax audit is required. (AI Summary)
A taxpayer asked whether returns for the year may be filed under presumptive taxation given current turnover below the presumptive ceiling after a prior year that required audit. Contributors observed that the presumptive scheme's turnover test relates to the previous financial year and offered contrasting views: one stated that audit applies when turnover exceeds a business threshold and professionals face a lower audit threshold; another maintained that if presumptive taxation applies, no tax audit is required. (AI Summary)