In case of a partnership firm, if the turnover is below the tax audit limit and there is loss for the year then is it necessary to get the accounts audited.
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Tax audit
Replies (3)
Earlier years tax audit was mandatory and done.
in your case tax audit is not mandatory as u neither fall under section 44AB nor under sec 44AD... so simply avoid and file return before 31st july to get the benefit of loss
Since there is loss, the partners want a certification from the auditor.....is it mandatory to take it
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