Urgent

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Atul M

aaa

729 Points Joined August 2009

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 .

Replies (1)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

210912 Points Joined July 2016

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.