Is Tax Audit Mandatory In Case of Partnersgip Firm having Turnover of Rs. 32,00,000/- and having loss of Rs. 50,000/- ?
Is Tax Audit Mandatory In Case of Partnersgip Firm having Turnover of Rs. 32,00,000/- and having loss of Rs. 50,000/- ?
Tax audit is mandatory in 2 condition:
1.If turnover of Co. crosses 1cr and professional turnover crosses 50lakh
OR
2.Profit % of co. is below 8% and of professional receipts is below 50%
2CR LIMIT IS FROM FY2018-19.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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