Us 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 April 2012
sir,
i have partnership firm of manufacturing unit my turnover is 19lacs , and diclered net profit rs. 97000 after interest to parteners and renumaration to partners
interest to partner is 105000/- and remuneration to partner 97000/-
my quary is whether conduct audit u/s 44ad or not plz reply
i have partnership firm of manufacturing unit my turnover is 19lacs , and diclered net profit rs. 97000 after interest to parteners and renumaration to partners
interest to partner is 105000/- and remuneration to partner 97000/-
my quary is whether conduct audit u/s 44ad or not plz reply
19 April 2012
Since your declared income before partners remuneration and Interest is 15.73%(i.e.more than 8%) you are not required to get your account audited.
19 April 2012
YES.AUDIT U/S 44AD IS REQUIRED IN A SUCH SITUATION WHEN ASSESSEE DECLARE HIS INCOME BELOW THAN 8%.
IN THIS CASE MAINTAIN BOOKS & AUDIT IS COMPULSORY.
IN THIS CASE MAINTAIN BOOKS & AUDIT IS COMPULSORY.
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
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Eway bill for machinery reparing
- TDS ON CASH WITHDRAWALS...
- Form 10BD Filling
- Registration as Authorised Representative of minor
- Change the gender in the registration of icai
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
