Section 44ab
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 June 2013
Partner receives remuneration of Rs 1.10 crore during FY 2012-13 (AY 2013-14) as calculated from partnership firm
Accounts of the partnership firms are audited u/s 44AB
Does an individual - partner who receives remuneration of Rs 1.10 Crore have to get his accounts audited u/s 44AB Separately ?
Accounts of the partnership firms are audited u/s 44AB
Does an individual - partner who receives remuneration of Rs 1.10 Crore have to get his accounts audited u/s 44AB Separately ?
21 June 2013
No, because it is not his/her total turnover/gross receipts but income u/s/28(v) of the Income tax Act,1961.
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