Is TAX AUDIT mandatory if turnover is Rs. 35 lakhs and the net profit is 0.1% of the turnover approx

@ Adnan,

In a normal business, the Tax Audit is applicable if Turnover exceeds INR 1 Crore. In the case of the profession, the Tax Audit limit is INR 50 Lakh.

 In your case tax audit is not applicable.

It is a partnership firm

@ Adnan,

The Limit remains the same.

There is remuneration to partners expenditure shown

@ Adnan,

In your case, you are following to file your return under normal provisions by showing complete details of the P/L A/c and Balance sheet. So, you can show Remunerations as well.

Are you sure?? Can you support this with some reference??

@ Adnan, 

You can refer the section 44AB for the applicability of Tax Audit. Please find enclosed the link for your reading purpose.

https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx