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Partnership Firm Audit

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(Querist)
05 September 2010 X & Co. a regd. p'ship firm has gross recipts of Rs. 18 lakhs for F.Y 10-11. Is the firm liable to get their accounts audited from a Chartered Accountant?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
05 September 2010 No as the limit for tax audit is Rs. 60 lakhs
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CA. Rishabh Mittal

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CA. Rishabh Mittal (Expert)
05 September 2010 Whether the partnership firm has business or profession ... Ur question is not clear enough ..??
If Business - Then no audit required
If Profession - Then Tax Audit required
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