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tax audit for partnership firm
whether a partnership firm is liable for tax audit if it has opted for presumptive taxation scheme and has declared a profit of less than 8%
Replies (3)
Yes... The Firm is liable to Audit.
Yes... Tax Audit is applicable if opt Presumptive Scheme but showing less than the Turn Over limit.
(In case all receipts through digital mode (other than Cash) then 6% can be shown...)
Yes. Firm is liable to tax audit.
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