partnership audit

Compulsory limit for partnership firm is 2 cr u/s 44AB.if u don't want to get audit your accounts then show profit @ 8 of turnover u/s 44AD upto 2 cr.once your turnover cross 2 cr then you must have to audit your accounts.

Limit u/s 44AB
Rs. 1 Crore. It means an assessee need to be audited under Sec.44AB if his annual gross turnover/receipts in business exceeds Rs. 1 crore. It means the limit of Tax Audit u/s 44AB is Rs. 1 Cr. for Business in FY 2017-18 / AY 2018-19.

Limit u/s 44AD
Businesses, whose annual gross turnover/receipt does not exceeds Rs. 2 Crore are eligible for this scheme.
Sec 44AD provides special provision for computing profits and gains of business on presumptive basis. You need not to maintain proper accounting. Your net income is estimated to be @ 8% of your gross receipt/turnover. From F.Y. 2016-17, net income is calculated as @ 6% of gross receipts are received through digital mode of payments and @ 8% of gross receipts are received in cash.

For better tax planning, it is suggestible to do the Audit.