Reg.patnership
This query is : Open
07 March 2018
Sir,
In a partnership we have turnover Rs.2925000/-get a profit 649750/- after Salary of both partner its 169750/-So can we need to do tax audit. and tax calculation amount of 649750 or 169750/-how much income tax we need to pay
Please reply
Sir,
In a partnership we have turnover Rs.2925000/-get a profit 649750/- after Salary of both partner its 169750/-So can we need to do tax audit. and tax calculation amount of 649750 or 169750/-how much income tax we need to pay
Please reply
07 March 2018
There are mainly 2 section. 44AD and 44ADA. If you are providing services of professional, you need to consider section 44ADA otherwise it will be 44AD. Assuming 44AD in your case, your profit is above 8%, hence audit is not required.
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
- Regarding E-invoice Generation
- Forgot to update debit note in gst
- Relief Calculation u/s 89 of ITax 1961 in TableA Form10E
- Can we claim ITC in 28%
- ADDITIONAL PLACE OF BUSINESS DOCUMENTS
- Wrongly goods delivered to other state
- Applicability of RCM on Frieght Inward supplies received from un-registered person
- Registration of partnership firm maharashtra
- Conversion of Pvt Ltd Company to a LLP
- Ca final exam registration may-26
- GST APPLICATION
- CERTIFIED TRUE COPY OF PARTNERSHIP DEED
- PARTNERSHIP FIRM REGISTARTION
- TDS on Immovable property to an NRI
- Revenue stamp for individual to Individual
- Regarding updated Return After Submission of Income Tax Audit Report
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
