44AD VS 44AB compulsion

This query is : Resolved

jayesh khokhariya (Querist)
Follow

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

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

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

jayesh khokhariya

jayesh khokhariya (Querist)
Follow

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%

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

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

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Mohammad Abdu Fayaz

Sidhartha sankar pillai

Anoop KK

Srikanthan S

Santosh Behera

Subscribe Now

44AD VS 44AB compulsion

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

CA Final

Senior Executive

Manager- Finance and Compliance

Accountant

GST CONSULTANCY