Tax Audit Applicable or not?

This discussion clarifies whether a tax audit is applicable for a partnership trading firm that began in October 2024. With a turnover of Rs. 1.92 Crores and a loss of Rs. 4 Lakhs, and no cash transactions, the firm is advised that a tax audit under Section 44AB is not applicable. The user also confirmed that the business loss can be carried forward, provided the Income Tax Return (ITR) is filed before the due date.