Section 44ad
This query is : Open
Jignesh Selarka
(Querist)
08 June 2017
Partnership firm have no profit no loss than section 44 ad is applicable for f.y. 2016-17
CA Rashmi Gandhi
(Expert)
08 June 2017
Is there any turnover.
Jignesh Selarka
(Querist)
08 June 2017
Yes turnover below 1 crore
CA Rashmi Gandhi
(Expert)
08 June 2017
Then also 44 AD applicable.
CA Rashmi Gandhi
(Expert)
08 June 2017
Show minimum 8% income if you want to declare nil profit then go for audit.
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