Required tax audit or not
This query is : Resolved
16 November 2019
A partnership firm total turnover in f.y 18-19 is 60 lakh from pharmacy business and maintaining proper books of accounts and profit is 2.90 lakh. And he started business last year when he file return with loss of 35000/-. Now the question is that shall he required tax audit when he had not opted presumptive tax scheme in last year and also not want to opt this year.
27 May 2020
Tax Audit is not required.
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