44ab

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 August 2015 PARTNERSHIP FIRM

sale 5775000/-

gross profit 526000/-

net profit 2200/-

no partner interest

no partner salary

IS AUDIT REQUIER OR NOT

is 8% formula applicable or not

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Amol S Joglekar

Amol S Joglekar (Expert)
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17 August 2015 44AD is applicable if the firm falls under the definition of "eligible business"

And if the firm falls under eligible business, TAX audit is required

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