No Audit Report Needed for Digital Marketing Business Under ₹5 Crore Turnover: Madras HC

Vajra Global Consulting Service LLP Vs Assistant Director of Income Tax (Madras High Court) No requirement of Audit Report in Digital Marketing with a turnover below ₹5 Crores and cash transactions below 5% as it was business and not profession Conclusion: Anybody carrying on the business of Digital Marketing with cash transactions both on the aspect of receipts and payments in cash below 5% of the turnover, which was below Rs.5 Crores as per the proviso to Section 44 AB (a), the said assessee was not required to file an audit report and they were exempted. Held: Assessee-company was carryin...