I m having partnership firm up to last yr we r going under audit as profit below 8 percent and turnover above 1 crore.
now this yr my turnover is 35 lakh only and firm shows loss. is it necessary to do audit of my firm.
plz suggest
Menu
Audit in case of loss to a partnership firm
Replies (1)
For presumptive taxation you have to maintain it for 5 years.
In case turnover is less than threshold limit then audit is not applicable. Carry forward the losses
In case turnover is less than threshold limit then audit is not applicable. Carry forward the losses
Recent Topic
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
Related Topics
CAclubindia
