Audit under income tax act
This query is : Resolved
Naresh Kumar
(Querist)
12 July 2012
if sale is rs. 54 lac
net profit is rs 37000
partner salry is rs. 270000
partner capital interest is rs. 170000
then whether their is requirement of audit
the assesee is a partnership firm
net profit is rs 37000
partner salry is rs. 270000
partner capital interest is rs. 170000
then whether their is requirement of audit
the assesee is a partnership firm
CA CS Amit S. Kedia
(Expert)
12 July 2012
Is it business or profession???
If it is business then tax audit is not required otherwise tax audit is applicable.
If it is business then tax audit is not required otherwise tax audit is applicable.
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