Dear Sir,
Kindly resolve the below query :
To file a normal return of Partnership firm , It is having a Turnover of Less than 10 lakh and net profit is below of 8% .
Sir, will they eligible of Tax Audit for F.Y 2017-18?
Thanks in Advance .
In cse of 'Eligible business' if total income is positive amount, tax audit liability will arise. But if its below zero or minus, then audit not mandatory.
CAclubindia
