Applicability of tax audits
This query is : Resolved
Sumit Shaw
(Querist)
13 July 2019
Hello Experts, I have a partnership firm and my turnover is 126000 for FY 19-20 and my net profit after deducting interest on capital is 6300 which is less than 6%. The tax liability in this case comes to 1900 approx. So do I need to do tax Audit in this case as profit is shown less than 8%. If yes, please let us know if there is any way to avoid tax audit as that would be real burden on us to do Tax audits? Please guide and suggest.
13 July 2019
FY 19-20. Turnover Rs. 1,26,000/-.Hypothetical Situation. CA Final student. Don't
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