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Tax audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 October 2017 If Turn over is less than one Crore & there is loss in Partnership firm .Is audit required?
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RAJA P M

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RAJA P M (Expert)
19 October 2017 Yes... Tax audit required...
U/s. 44AB AY 2017-18 tax audit applicable if it's run as Profitable also Audit applicable for Loss
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
20 October 2017 No need of tax audit. Inference - 44AD(4) read along with (5).
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