Audit requirement in case of partnership firm
This query is : Open
13 July 2017
ABC & Co. a partnership Firm Having a profit before remuneration is Rs.36000 and Rs. 36000 is distributed as remuneration to the partner. Therefore profit after remuneration is 0. Is the partnership Firm is required to get its accopunt audited U/S 44AB.
Ashiwini Ballodia
(Expert)
13 July 2017
Kindly check the profit percentage before partner remuneration
Ashiwini Ballodia
(Expert)
13 July 2017
If profit is claimed less than 8% than you have to get yours books audited
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