Tax audit requirement

Dear Experts,

If an LLP has turnover less than Rs.1 Crore but incurring loss for the financial year 2017-18, would they come under the purview of tax audit?

Is there a chance that they would get a notice from IT Department for showing loss? Please advice.

Thank you.

Chandana

 

Replies (2)
Provisions of Section 44AD are not applicable to LLP. Hence tax audit is not required if their Turnover don't exceed 1 Crore.

Thank you for your clarification, Sir.

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