dear all,
please suggest me, whether it is applicable tax audit a LLP having Turn Over below 10 lakh and having loss before giving salary and interest to partners.
thanking you,
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applicability of tax audit u/s 44ab
Replies (3)
44AB applies depending upon turnover execcefing 1 Crore. Here it is below 10lakhs. so 44AB does not apply
TAX AUDIT u/s 44AB of the Income Tax Act 1961 is not applicable if the Turnover of Business is less than Rs. 1 crore.
its not a general firm , its LLP
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