Partnership Firm Audit
This query is : Resolved
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
If Business - Then no audit required
If Profession - Then Tax Audit required
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