Income tax related problem in partnership irm
This query is : Resolved
09 October 2013
sir
i have a partnership firm whose turnover is Rs.1287968/-. and remuneration given to partner is rs 225000 to three partner.
i want to disclose profit of rs 4762 after remuneration.
is tax audit apply on this firm , if yes in which section ?
i have a partnership firm whose turnover is Rs.1287968/-. and remuneration given to partner is rs 225000 to three partner.
i want to disclose profit of rs 4762 after remuneration.
is tax audit apply on this firm , if yes in which section ?
09 October 2013
if the turnover doesnt exceed rs 1 crore in case of business or 25 lakhs in case of professional services rendered then no tax audit is applicable.
in your case no tax audit is applicable.
in your case no tax audit is applicable.
09 October 2013
in this prblem we disclose profit .3698% of turnover. now tax audit applicable or not? can i disclose this profit without tax audit .
10 October 2013
As per sec 44AB no tax audit is required in ur case anyways.
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