I, have partnership firm & i maintain all books of accounts properly but my net income is less than 5℅ so tax audit applicable on me or not...
Turnover 1600000
F.Y. 2018-2019
Firm Registered March 2018
F.Y. 2017-18 ITR filed Nil
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My Net profit is Less Than 5℅ Tax audit is applicable on me or not..
Replies (2)
Yes, tax audit is applicable
Either declare 8% or 6% as the case may be under 44AD else audit your books of accounts
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