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Querist : Anonymous

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Querist : Anonymous (Querist)
24 June 2013 XYZ partnership firm has Brokerage or Commission Income of Rs. 14,00,163/- and has shown Net Profit of Rs. 29,602/- only which is significantly less than 8%. Is above partnership firm required to audit their accounts....???
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CA Kapil Verma

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CA Kapil Verma (Expert)
24 June 2013 yes, it need to be.

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