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partnership firm Tax Audit 44AD

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(Querist)
23 June 2017 the 8% profit is to be considered before interest on partners capital and partners remuneration or after deducting it for determining audit applicability, because in our client case profit is 13% before interest and remuneration but after remuneration and interest it is 5% . Whether audit is applicable to this firm for F. Y. 2016-17.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
23 June 2017 Same is to be considered after interest & remuneration.
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Sourabh Ambure

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Sourabh Ambure (Querist)
23 June 2017 means we have to do audit..right?? in present case.
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
23 June 2017 Audit is applicable as profit is below than 8%
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Sourabh Ambure

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Sourabh Ambure (Querist)
23 June 2017 thank you very much
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
23 June 2017 Yes you are liable to get your accounta audited.
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