tax audit for f.y 16-17
sudhakar (assistant) (29 Points)
31 January 2018
I am having partnership firm. My turnover is 40lakhs. I incurred book loss of 5 lakhs. whether I required to do tax
2 Replies
CA Mayur Todmal
(Practicing CA)
(7756 Points)
Replied 31 January 2018
if you are opting for presumptive taxation under income tax and shows profit less than 8%(6% e payment case) (50% in case of professional)then you have to do tax audit. Other wise not
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