Audit and sec. 44ad
This query is : Resolved
Smit Agrawal
(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)?
Nikhil Kaushik
(Expert)
03 August 2014
yes if the business is covered under definition of eligible business under section 44AD
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.
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Reward for festival
- 18% Rent a cab
- Capital gain on commercial property and investment in residential property
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- TDS Return Statement Status
- Import of Capital Machine
- ARCA LOGIN
- Appointment of Auditor By Form ADT-1
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
