44ad limit is after remuneration/interest or before?
This query is : Resolved
05 October 2020
whether tax audit is applicable or not --->
44ad limit of 8% / 6% has to be compared with profit after remuenration and interest or before charging remuneration / interest?
i understand, it should be after remuneration / interest, that profit is to be compard with 8/6% of turnover.
another query===> if 44ad was applicable for asst.1920 but audit was made u/s. 44ab, i understand 5 years i have to get the books audted.
regards, ca kunjan, 9222 9222 92, mumbai
44ad limit of 8% / 6% has to be compared with profit after remuenration and interest or before charging remuneration / interest?
i understand, it should be after remuneration / interest, that profit is to be compard with 8/6% of turnover.
another query===> if 44ad was applicable for asst.1920 but audit was made u/s. 44ab, i understand 5 years i have to get the books audted.
regards, ca kunjan, 9222 9222 92, mumbai
05 October 2020
It should be before remuneration / interest, that profit is to be compard with 8/6% of turnover.
It's like this once opted our of 44AD we have to wait for 5 years for opting back to 44AD.
It's like this once opted our of 44AD we have to wait for 5 years for opting back to 44AD.
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
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Section 50-fixed asset-->building ceases to exist
- Reprocessing of rectification order AY 2025-26
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Regime change
- Consolidated financials
- Goods sold but invoice not issued
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
