Dear Sir,
Kindly resolve the below query :
To file a normal return of Partnership firm , It is having a Turnover of Less than 10 lakh and net profit is below of 8% .
Sir, will they eligible of Tax Audit for F.Y 2017-18?
Thanks in Advance .
In cse of 'Eligible business' if total income is positive amount, tax audit liability will arise. But if its below zero or minus, then audit not mandatory.
Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
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Vardhaman Group of India
Pimpri Chinchwad
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Shaswat initial support private limited
Ahmedabad
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CAclubindia
