Section 44ab r/w section 44ad

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2017 Respect Sir,
What if a partnership firm(non LLP being eligible assesse) having turnover less than 2 crore with profit before allowing partner's interest and remuneration more than 8 percent but after allowing partner's interest and remuneration as per section 44(b) profit falls below 8 percent .whether firm can go for audit under section 44AB or should declare profit more than 8 percent.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

06 August 2017 its your choice.....you can take any option you want.

Message likes : 1 times

Studentsca

Studentsca (Expert)
Follow

06 August 2017 If you are ok with showing profit at more than 8% then go for section 44 AD.

However if you are not then your only option is to go for Tax Audit under section 44AB.

Message likes : 1 times

RAJA P M

RAJA P M (Expert)
Follow

06 August 2017 Yes.... You can show profit 8% after all deductions then you can file u/s 44AD. if not, You can go to Audit u/s 44AB...

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA.Gopal Rathi

S J MITRA

CA Sunny Sharma

Moby Mogli

Vimlesh kumar

Subscribe Now

Section 44ab r/w section 44ad

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Accountant

CA Final

GST CONSULTANT

Manager- Finance and Compliance

Article Assistant