44ad for firns for the ay 2017-18
This query is : Resolved
Vijay Mohan
(Querist)
14 October 2017
what is fate of partnership firms opting 44ad if turnover is 80 lakhs. for AY 17-18 not allowing partners remuneration and int not allowed. will they pay huge amount of tsx
14 October 2017
Yes...
You are exactly correct...
Why not you can file u/s 44 ab....?
You are exactly correct...
Why not you can file u/s 44 ab....?
Vijay Mohan
(Querist)
14 October 2017
opting for 44 ab there may be a chance of scrutiny. previously opted for 44ad and now 44ab below 8% of turnover.
17 May 2018
The only option is to maintain books of accounts and get the accounts audited. Scrutiny is not something to be afraid of if your documents are strong and valid.
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