Hi Friends,
Whether Tax Audit u/s 44AB is applicable in case of Partnership firm where the net income after Interest on capital and remuneration to partners is less than 8% of Gross receipts for AY 2017-18.
Kindly reply.
shail (ca) (29 Points)
12 August 2017Hi Friends,
Whether Tax Audit u/s 44AB is applicable in case of Partnership firm where the net income after Interest on capital and remuneration to partners is less than 8% of Gross receipts for AY 2017-18.
Kindly reply.
Shashikant
(ARTICLED ASSISTANT)
(207 Points)
Replied 12 August 2017
Neha Jain
(Chartered Accountant)
(1085 Points)
Replied 12 August 2017
Upto turnover 2crore it will exemp if you opt for presumptive taxation scheme u/s 44AD
Shashikant
(ARTICLED ASSISTANT)
(207 Points)
Replied 12 August 2017
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