Audit reqirement
This query is : Open
Sagar Taralekar
(Querist)
13 July 2017
i am having a partnership firm. we had given our sheds on rent . also we got interest on deposit after tds cutting. total income is less than 3.75 lacs. after salary to partners & interest on capital, the np is below 2000.
is it required to get income tax audit as the np is below 6 % or 8 %
is it required to get income tax audit as the np is below 6 % or 8 %
Ashiwini Ballodia
(Expert)
13 July 2017
6% or 8% is seen before partner remuneration
Ashiwini Ballodia
(Expert)
13 July 2017
And if profit of partnership firm is less the 6% or 8% than books of account is to be get audited
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