Abhijit Puglia (Manager - Accounts & Compliance) (456 Points)
17 November 2014Ours is a Partnership firm. The total turnover for the year financial year 2013-14 does not cross Rs 1 Crore. However we have incurred a loss during the year. Are we liable to have our accounts audited under section 44AB and file form 3CD?
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 18 November 2014
No, assuming the turnover is from business and not from profession.
Nishant Singla
(Chartered Accountant in Practice)
(71 Points)
Replied 17 December 2014
CAclubindia
