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Regarding Tax Audit of Parternship firm (In case of first year)

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(Querist)
22 July 2025 Respected Colleagues,
If a partnership firm having first year of business FY 2024-25 turnover nearly 30 Lakhs and Profits approx 1.45 Lakhs before partner remuneration, then as per sec 40(b) of IT act, firm entire Book profits transfer to remuneration of partners due to below 1.50 Lakhs and in this case no loss ,no profit, So my question is whether tax audit is compulsory in this case or not, due to below profits under 6% as per 44AD? ...............Please guide
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
22 July 2025 Tax audit shall never apply for turnover up to Rs. 1 Crore for business, irrespective of the rate of profit declared by the assessee.
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