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Firm tax audit

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Sumit Shaw (Querist)
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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

CA R SEETHARAMAN (Expert)
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24 August 2019 Yes you can do so...........

Sumit Shaw (Querist)
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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

CA R SEETHARAMAN (Expert)
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24 August 2019 No tax audit in case of no taxable profit reported

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