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SHOWMAYA LAHA's LIMITED UNLIMITED

Basically a blog on Indian taxation matters. Also anyone can
find information on education, professional matters.

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  • Updated 5 Years Ago

What is Net Loss? Is Tax Audit Compulsory in case of Loss ?

Updated 6 Years Ago

What Is Net Loss? Is Tax Audit Compulsory In Case Of Loss ?
It is an important and confusing question that whether Tax Audit u/s 44AB is required or not in case of Loss. Loss may occur in Business or F&O Trading or House Property or any other heads of Income. It is true that Net Profit will be below 8% in case of loss, but it does not totally satisfy the whole clause of Tax Audit u/s 44AB. Let's read the whole article to know whether Tax Audit is Compulsory or not in case of Loss.
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