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Section 44ab

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Querist : Anonymous (Querist)
21 June 2013 Partner receives remuneration of Rs 1.10 crore during FY 2012-13 (AY 2013-14) as calculated from partnership firm

Accounts of the partnership firms are audited u/s 44AB

Does an individual - partner who receives remuneration of Rs 1.10 Crore have to get his accounts audited u/s 44AB Separately ?

21 June 2013 No, because it is not his/her total turnover/gross receipts but income u/s/28(v) of the Income tax Act,1961.



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