AUDIT

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%