24 July 2013
First of all he must and should required to maintain regular books of accounts and if his total taxable income exceeds basic exemption limit then required to make TAX AUDIT u/s 44AB.
24 July 2013
Assessee is keeping regular books of account and his gross turnover is 13 Lakhs. Rule for compulsory tax audit if income below 8% of turnover wont apply to this case?
24 July 2013
Then basic exemption limit for partnership form is 0(ZERO). and your income is less than 0 i.e negative value so you need not to make tax audit u/s 44AD.