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.
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