Firm tax audit
This query is : Resolved
Sumit Shaw
(Querist)
24 August 2019
My partnership firm turnover is 6 lakhs and want to show 0 net profit so as to avoid tax audit. Can I do so .. please help me with any law reference..
CA R SEETHARAMAN
(Expert)
24 August 2019
Yes you can do so...........
Sumit Shaw
(Querist)
24 August 2019
Can you please quote and reference supporting the same as many others are saying that since it's a partnership firm showing profit less than 8% will attract tax audit..
CA R SEETHARAMAN
(Expert)
24 August 2019
No tax audit in case of no taxable profit reported
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