Tax audit requirement for partnership firm

Dear Members,

We are a Partnership Firm carrying on business of running a business centre where we provide plug and play offices for startups. Our turnover for financial year 2015-16 is about Rs.3,00,000/- and since this is the first year of our business, we have a loss of Rs.1,40,000/-.

Please advice if we fall within the purview of tax audit considering various section of Income Tax regarding Tax audit. 

Please help.

Thank you.

Chandana

 

 

Replies (1)

No tax audit liable.

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