Is Tax Audit Mandatory In Case of Partnersgip Firm having Turnover of Rs. 32,00,000/- and having loss of Rs. 50,000/- ?
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Tax audit
Replies (4)
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%
Correction...Limit of 1cr has been increased to 2 cr...
agreed with the rest of the part.
agreed with the rest of the part.
2CR LIMIT IS FROM FY2018-19.
Yes.... I agreed to Mr Sumit Gupta...
@ Mosin.,
Yes... Tax Audit applicable as per Your query if You are opt u/s 44AA...
@ Mosin.,
Yes... Tax Audit applicable as per Your query if You are opt u/s 44AA...
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