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Tax audit for loss assessees and companies
is tax audit compulsory for loss assessees and companies
Replies (2)
Quick Summary
Tax audit is required on the basis of turnover if it exceeds one crore during the previous year.
In case of Individuals , HUF and Partnership firm tax audit should be mandatory if profit shows less than 6% or 8% of turnover.
Other than above, tax audit requires, if they exceed the turnover limits.
Other than above, tax audit requires, if they exceed the turnover limits.
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