Audit u/s 44 ad
This query is : Resolved
sanjay kumar gupta
(Querist)
05 March 2013
partnership firm
gross turnover rs 25 lacs
net loss 10000/-
( before interest & remuneration to partners)
whether audit u/s 44ad is mandatory.
gross turnover rs 25 lacs
net loss 10000/-
( before interest & remuneration to partners)
whether audit u/s 44ad is mandatory.
CA Mahavir Shah
(Expert)
05 March 2013
Yes, if you want to claim Profit less than 8% of Turnover then Accounts needs to be audited.
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