I HAVEA DOUBT PLEASE SOLVE ANYONE:-
I HAVE PARTNERSHIP FIRM WHOSE TURNOVER IN F.YR-2023-24 IS RS 10.00 LACS AND PROFIT MARGIN IS 3%.AND I HAVE TO DISTRIBUTE REMUNERATION SO IS AUDIT MANDATORY
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AUDIT MANDATORY FOR FIRM IF FIRM PAYS REMUNERATION TO PARTNERS
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Audit u/s. 44AB is not applicable, if not opted out of presumptive asessment in any preceeding five years.
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