whether partnership firm required tax audit in case of no
loss and no profit.
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required compulsory tax audit
Replies (3)
Can you explain Yourself for Your query....
requirement for Tax audit depends on turnover and not on profit/loss. If your firm is providing professional service then tax audit is required if turnover exceeds 50 lakhs and if other then 1cr.
inthat case turnover is approx 90lacs.and there is no profit and no loss situation and also itr of the firm is yet to file and don't want to file the itr under sec 44ad...
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