In the case of a CA Firm whose Gross receipts are less than Rs. 15 lakhs, is the tax audit is compulsory if the firm is claiming the partner salary as per section 40(b) and the firm is not opting for Section 44ADA?
Replies (2)
Quick Summary
This discussion clarifies whether a tax audit is compulsory for a CA firm with gross receipts under £15 lakhs. The consensus is that if the firm is claiming partner salary under section 40(b) and not opting for Section 44ADA, a tax audit is not compulsory. This provides important guidance for firms navigating these specific tax regulations.