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%
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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.
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