TAX AUDIT AND INCOME TAX RETURN -URGENT

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Abhijit Puglia (Querist)
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29 September 2023 The Partnership firm was incorporte on 11-02-2023 and within 31st march, 2023. Total turnover is 2 Lacs out of that 95% is cash Sales and balance 5% in through banking transaction. Now question is Tax Audit is applicable or not. If yes then under which section ?
or
Can i file the income tax return A.Y 2023-24 and AY 2024-25 together?

can i prepare the Books of account from 01-02-2023 to 31-03-2024??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 September 2023 Tax audit not applicable.
No, prepare books of accounts seperately for year ending 31st March 2023 and file ITR.

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