Question ID :
44914
APPLICABILITY OF AUDIT UNDER SECTION 44AB
Partnership firm incorporated in the FY-2024-25, having turnover of 5,04,000/- and profit of 18,000/-. Whether tax audit required ?
Posted by
GAURAV MUNJAL
on
Aug 23, 2025
Filed Under
DIRECT TAXES
"As this is your first year, you may file the partnership firm's return without requiring an audit, provided that proper books of accounts are maintained and the total turnover does not exceed ?1 crore."
Posted by
PONNUSAMY R on
Aug 26, 2025
Answer ID :
85996
For a partnership firm incorporated in FY 2024-25 with a turnover of ?5,04,000 and a profit of ?18,000, tax audit is not required. You may file the firm’s return without audit if proper books of account are maintained and the total turnover does not exceed ?1 crore for the year.
Reference: Section 44AB of the Income Tax Act.
Posted by
CA NIKHIL JAIN on
Sep 02, 2025