44AD VS 44AB compulsion
This query is : Resolved
18 July 2024
Partnership having turnover around 60 lakhs filing first time income tax return than is it compulsory to carry out audit if shows profit lower than 6% as per 44 AD ( as 44AB Limit is 1 crore)
or
Can we file return showing lower profit below 6% with profit and loss account and balance sheet assuming not opting for 44AD
or
Can we file return showing lower profit below 6% with profit and loss account and balance sheet assuming not opting for 44AD
18 July 2024
we can file return showing lower profit below 6% with profit and loss account and balance sheet assuming not opting for 44AD
18 July 2024
is their any compulsion to opt 44AD and to do compulsory audit u/s 44AB as we a are showing profit lower than 6%
18 July 2024
No. just declare it under normal assessment with books of accounts maintained.
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
- Two pancard
- Transfer of MF
- Regarding E-invoice Generation
- Lifting and cross charges
- E bike purchase can get input in GST
- Eligibility for filling NEW Form 121 from April 2026
- SSY for 2 daughters
- Can we claim RCM ITC paid on Gst audit of earlier years,
- GST NUMBER REGARDING
- Income tax on agriculture income with having business income
- Capital Gain Amount
- About Exgratia bonus
- PTRC PAYMENT & RETURN FILING (Annually)
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
