Hi,
My turnover is 6.5 Cr (99.5% non-cash transactions) which is less than 10 Cr for permissible cases. Profit is 10 Lakh. Do I need to get audit done? I read that audit is mandatory if taxable income less than 6% of turnover?
Also, note that I got accounts audited in last two years (turn over: FY 20: 1 Cr and FY 21: 6 Cr in those y), but if possible i wish to opt out of audit this year onward. I had a loss in FY 20, and profit of 17 L in FY 21 (not filed under presumptive taxation)