Tax audit mandatory or not

For a partnership firm with a turnover of £80 lakh in FY 2020-21, a tax audit is generally not mandatory unless profits are below 8% of turnover. If presumptive taxation under Section 44AD was chosen previously and current year profits fall below the 6% or 8% threshold, then subsections 44AD(4) and 44AD(5) apply, making an audit mandatory for the current and next five years, regardless of turnover or profit percentage. In such cases, Partnership Firms must file ITR-5.