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tax audit for f.y 16-17
I am having partnership firm. My turnover is 40lakhs. I incurred book loss of 5 lakhs. whether I required to do tax
Replies (2)
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
in case loss no need to do tax audit
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