44 AB applicability
This query is : Resolved
Shankar Rao
(Querist)
29 November 2019
Dear all
A Partnership firm is having turnover of Rs 20 lakhs and net profit after payment of interest and remuneration is Rs 0(zero) for the asst year 2019-20 whether this firm is required to get accounts audited or not kindly clarify ( earlier also this firm was not filed return u/s 44AD)
thanks
A Partnership firm is having turnover of Rs 20 lakhs and net profit after payment of interest and remuneration is Rs 0(zero) for the asst year 2019-20 whether this firm is required to get accounts audited or not kindly clarify ( earlier also this firm was not filed return u/s 44AD)
thanks
CA R SEETHARAMAN
(Expert)
30 November 2019
Audit not required as there's no taxable income.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- GST input credit on commercial property
- Nursery business
- TDS on Dashcam rent and allied services
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- Capital Gains Tax on Inherited Mutual Fund
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Intimation under section 245
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
