11 September 2013
Dear Sir, One of my partnership business doing knitting business has Business loss of around -15,00,000(after depreciation) for the asst year 2012-13 Which has a turnover of Rs.42 lakhs, now i am about to compute the total income of this firm. i seek your esteemed guidance in deciding the following aspects
whether i would be required to audit my accounts since it is below 8% and
Whether the provisions of 44AD has anything to do with this or is there any way to go without auditing my accounts.
If i do not adopt the concept of 44ad, What else is there?
CAclubindia
