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Whether this income is eligible to get Audit ?

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(Querist)
31 July 2010 Total Turnover of a Partnership FIRM : 38,00,000/-
Income from business of Retail Trading (5% of Rs. 38,00,000/-) : 1,90,000
Salary & interest paid to partners as permitted by section 40b : 2,00,000
Income from Retail business : (10,000)
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CA Kapil B Gupta

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CA Kapil B Gupta (Expert)
31 July 2010 As per your query,no need to get an audit.
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ARUN KUMAR V

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ARUN KUMAR V (Expert)
31 July 2010 Agree with CA Kapil gupta. (5% is upto AY2010-2011)
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CA. Pradeep Nayak

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CA. Pradeep Nayak (Expert)
31 July 2010 There is no need for tax audit u/s 44AB.

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