tax audit

Simran Keswani (12 Points)

21 January 2019  
is a newly formed partnership firm liable to audit having zero turnover showing loss.the provisions of sec 44AD states that if income exceeds maximum amt not chargeable to tax,then audit is required.will it apply to loss and hence no audit.wat if tax audit if applicable not filed wat is the penalty turnover is zero so 0.5% of turnover is zero, hence no penalty??