12 December 2013
If Partnership Firm Gross Professional Receipts was Rs 5,26,000/- & showing profit of Rs 22,800/- Firm was liable for Tax Audit u/s 44AB or he needs to show profit 8% of(5,26,000/-) ie Rs 42080 s & pay tax @Rs 13,000/-. Please let me know any alternative available to save the tax.
CAclubindia
