Dear sir
compulsory audit file for partnership business ?
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AUDIT
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| Originally posted by : Vijay Baraiya | ||
 |
Dear sir compulsory audit file for partnership business ? |  |
U/s 44AB - Audit limit Rs. 1 cr
If opt U/s 44AD (Eligible Business) - Audit limit will be applicable above Rs. 2 Cr. Above Rs. 2cr Tax Audit is compulsory...
Also if the Firm opt sec 44AD then profit will be shown 8% or above 8%. If Firm shows less than 8% then Audit is applicable.
If Firm opt u/s 44AA then they will file less than Rs. 1Cr and Profit will be shown 8% or Above 8%
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