if a firm has a turnover of ₹35 lakhs
and is in loss. is tax audit required if it does not opt for sec 44AD
NO
2 Replies
Tejas Tak
(315 Points)
Replied 25 February 2018
loss or profit does not matter
what matters is turnover of the firm
and for tax audit the thresshold limit is 1 crore
what matters is turnover of the firm
and for tax audit the thresshold limit is 1 crore
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