Tax audit
Querist : Anonymous
In AY 2016-17 my partnership firm
NP is above 8% before partners interest & salaries however after providing the salaries & interest to partners the NP is below 8% pls let me know in this scenario weather this books will be audited or not,
Thanks,
Rohan Chahar
Querist : Anonymous
Not be consider in the purview of 8%
Querist : Anonymous
firms has to produce its books
of accounts..2) on filing late return
Under sec 44AD weather interest
u/s 234A, B, C will be applicable
2 Yes interest will be applicable on late filing of return.
Querist : Anonymous
Querist : Anonymous
FY 2015-16 partners interest & salaries is not allowed if your NP
Goes below 8% after providing the
Interest & salaries to partners then
Audit is mandatory, but your view is
different as per you it is allowed even
In 2015-16,
Querist : Anonymous
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