Tax audit
This query is : Resolved
05 August 2015
Respected sir/mam
I am running my coaching institute which is patnership firm. As per 44 AB , is it necessary for me to get my books audit
gross receipts -850000
and if my net profit is less than 8% of gross receipts i.e 68000 . than audit is necessary. pls respond as early as possible.
05 August 2015
if you declare your profit less then 8% of 8.5 lakhs then tax audit applicable else not
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