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Liability to conduct tax audot in case of partnership firm

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(Querist)
07 September 2019 OUR PARTNERSHIP FIRM HAS TURNOVER OF Rs. 7 lakhs,, & PROFIT of Rs 4000 ..ARE WE LIABLE TO GET OUR ACCOUNTS AUDITED UNDER INCOME TAX ACT?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
07 September 2019 Yes tax audit required as you are declaring less than 8% profit.

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