I hava a partnership firm whose turnover in 2016-17 is 30 lacs (According to bank statement) till now we have paid very less amount of income tax but this year due to change in rules of remuneration and interest, taxable income is now 240000 I.e 8%. I cannot go for audit because the last date of audit is September and now it is march so their will be huge penalty .. So is their any way I can save tax. .
PS: one of the partner was no more in December 2016 but no intimation has been given to income tax dept till now neither deed has changed..
CAclubindia
