Tax audit applicability

[VIGNESH]

sir . a partnership firm having a turnover of ₹ 1.32 Crores and having a business loss to be Tax audited?

[DR.MARIAPPAN GOVINDARAJAN]

In my view YES

AI Summary

Tax audit applicability: partnership firms exceeding the turnover threshold require audit even if reporting business losses. Whether a partnership firm is subject to a statutory tax audit when it reports a business loss but its gross receipts exceed the prescribed turnover threshold; the advisory response affirms that tax audit applicability is triggered by the turnover criterion notwithstanding the presence of a business loss.