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Partnership Firm Audit

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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?

05 September 2010 No as the limit for tax audit is Rs. 60 lakhs

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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