Tax audit of partnership firm in case profit is zero
Aashu Goyal (76 Points)
10 July 2020Aashu Goyal (76 Points)
10 July 2020
CA Sunil Kumar
(Chartered Accountant)
(4514 Points)
Replied 10 July 2020
Ravi SADhiyan
(Practice)
(4510 Points)
Replied 10 July 2020
Originally posted by : Aashu Goyal | ||
Whether a partnership firm is required to get their accounts audited if their net profit is zero and turnover is also less than 1 cr |
If You File return under section 44AD and show profit 8 %
Otherwise you are required to Tax Audit if show profit as specified under 44AD
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