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Maintenance of books of account and get the audited or not

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 August 2018 Dear Sir/Madam.

In case of partnership firm current year (A.Y.2018-19) profit is more then 8% of total turnover and after set off of carry forward of previous year loss my net total income become nil. Should booked of account is required to audit or not.

Please help me.

Thank you.
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CA Ankit R Momaya

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CA Ankit R Momaya (Expert)
22 August 2018 Please mention your turnover..
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Querist : Anonymous

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Querist : Anonymous (Querist)
22 August 2018 Turnover for the year is Rs.45,00,000
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CA Ankit R Momaya

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CA Ankit R Momaya (Expert)
22 August 2018 Books of accounts have to be maintained, but audit is not required.

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