Go AD-Free with CAclubindia Pro and get Daily WhatsApp Updates. Subscribe Now!

Applicability of tax audit in case of partnership firm

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 August 2018 Suppose My net profit is showing 8.5% of sales before deducting interest on capital, but my net profit ratio is 6.4% after deducting interest on capital.. So am I required to do Tax Audit for the FY 17-18 ?
Please advice ..

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

18 August 2018 Yes tax audit applicable.

Querist : Anonymous

Querist : Anonymous (Querist)

18 August 2018 Thanks for the reply, now one more query suppose I am providing depreciation @3% in my books and the IT is allowing me 10% so my taxable income will be low ( may be below 8%).. so just confirming that it has nothing to do with tax audit.. Please confirm ..

Read more at: https://www.caclubindia.com/experts/applicability-of-tax-audit-in-case-of-partnership-firm-2684564.asp

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Tushar Gupta

madhuseshu yathirajam

CA.K.RAMAKRISHNA. PRABHU

Krishnan V

chandradhass sathish

Subscribe Now

Quick Links

Browse by Category

Latest Job Openings

View all

Featured 02 May 2026

Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details

Featured 29 April 2026

Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details

Featured 14 April 2026

GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details

Featured 13 April 2026

GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details

Featured 28 March 2026

Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details

Featured 28 March 2026

CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details

Featured ARTICLESHIP 19 March 2026

Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details

Featured 14 March 2026

Associate CA

N N V Satish&co

Hyderabad

View Details