banner_ad

Audit and sec. 44ad

This query is : Resolved 
Profile Image

Profile Image

(Querist)
03 August 2014 Sir, if our partnership firm has turnover less than 1 crore and has loss as per profit and loss account (before partner's remuneration and interest), then do we require to get our books of accounts audited u/s 44AB read with sec. 44AD(5)?
Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
03 August 2014 yes if the business is covered under definition of eligible business under section 44AD
Profile Image

Rupesh Jain

Profile Image

Rupesh Jain (Expert)
04 August 2014 yes you have to take audit report u/s 44AD due tot profit is less than 8% of turnover.
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
04 August 2014 agreed with above views.............................
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details