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Income Tax Question: Sale of newly launched partnership firm in 2017-18. 15 lakhs, 44AD as 8% profit 120000 / - on 30%, instead of paying Rs. 36000 / - to Rs. 120000 / - in case the income is zero in the earning of the income tax, why not send the return without auditing, then it will be legally valid?
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No, for eligible assessee books are required, may not be audited...... & in case of scrutiny ...
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