Assessee is a partnership firm. For F.Y. 2018/19
Turnover : 96,00,000
Net loss after partners remuneration is -421
Net profit before partners remuneration is 2,74,000
Wheather audit is applicable?
If you are filing return u/s 44AD Presumptive taxation , than tax audit is compulsory because you show your net profit bellow 8%, 6% as the case may be.
if You are filing return, not under prespative Taxation but under normal schemes than for applicability of tax audit other criteria also required to be checked.
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