Please let us know the applicability of Tax Audit in the following case,
Entity: Partnership Firm
Total Turnover in AY 19-20 Rs. 60 Lakh.
Net Profit is less than 8%
Menu
Is Tax Audit applicable for a partnership firm if the turnover is Rs. 60 Lakh?
Replies (1)
If your bank profit is less than 8% n cash profit is less than 6% then your are in the criteria of tax audit.
Recent Topic
- SEC 10(10CC) - TAX PAID BY EMPLOYER ON NON-MONETAR
- Buy back of shares
- Capital gain and federal tax withholding
- TIS amount
- Reimbursed income
- Bricks Klin
- Compile error in hidden module: Sheet1. (ITR 5 exc
- Is there a way to get refund for 26QB if paid twic
- How Important Is an MBA Course for Career Growth i
- Learn - How to Take Free Scheduled Auto Backup on
Related Topics
CAclubindia
