banner_ad

44AD in case of Partnership firm

316 views 3 replies
Is it advisable for a partnership firm to opt for presumptive taxation if it shows ad-hoc profit @ 6% or 8% as the case may be..

I raised this question because the firm is taxable @ 30% and may be having higher profits otherwise.

Thanx in advance
Replies (3)

6/8 % margin is over turnover for determination of PROFIT........

30% tax-ability is over profit so arrived is for calculation of TAX....

Both are different and hence, no contradiction!

If the actual earning of the firm is Rs 10L and the profit as per 44AD is Rs 5L, which profit should we consider..??
Depends on the ITR which you are filing.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
ARTICLESHIP 30 April 2026
Article Assistant

M/s G.K. Choksi & Co.

New Delhi

CA Inter

View Details