Whether audit compulsary
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 July 2013
I have a partnership firm,and in F.Y. 2012-13, i have sales turnover of Rs. 2,80,000/- ( Rs. Two Lakh Eighty Thousand ) approx. I have net profit of Rs.8,500/= ( Rs.Eight Thousand Five Hundred ) approx.
In short my Gross turnover is below 1 crore and my NP is below 8%
So whether Tax Audit is compulsary in my
case, and if yes under which section.
Pls. advice.
In short my Gross turnover is below 1 crore and my NP is below 8%
So whether Tax Audit is compulsary in my
case, and if yes under which section.
Pls. advice.
21 July 2013
Tax Audit is mandatory. Ref:- Corollary to section 44AD(5).
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