tax audit? not always.

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if your net profit is below 8% of your turnover.

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Under a section of Income tax Act, taxpayers engaged in certain businesses can declare their income at a prescribed rate and avoid tax audit

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You can avoid a tax audit by doing 95% of your transactions through bank mode.

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Business turnovers are recorded based on PAN.

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tax audit? not always.

4 cases where you need not

if your net profit is below 8% of your turnover.

Under a section of Income tax Act, taxpayers engaged in certain businesses can declare their income at a prescribed rate and avoid tax audit

provided that their total turnover or gross receipts don't exceed Rs. 2 crore.

You can avoid a tax audit by doing 95% of your transactions through bank mode.

If your turnover is crossing Rs. 2 crore but below Rs. 10 crore

Business turnovers are recorded based on PAN.