Partnership firm Audit under 44AB /44AD
This query is : Resolved
07 January 2021
in first year of partnership firm if Turnover does not cross 1 crore and firm wishes to declare profit less than 8% then in that case shall firm required to get books of account audited under Section 44AB?
07 January 2021
If turnover below taxable limit if net profit below 6 % or 8% than as the case may be than tax audit is applicable.
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