Audit u/s 44 ad

683 views 5 replies
we r doing business in partner ship .our total turnover for f y 2013-2014 was 60,00,000 rs and net profit is 33000 rs.. it is compulsory to do audit u/s 44 ad...
Replies (5)
yes you are reqd to get your books audited.
yes you are required

yes, as your net profit is below 8% of gross receipts.

Not under 44AD bt under 44AB..... If the profit is less than 8% as prescribed by 44AD, then the assessee is required to maintain books as per section 44AA n get his accounts audited u/s 44AB
I agree with Mr ishfaq baba and in case of partnership firm net profit of 8% should be taken into account before interest and remuneration to partners.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register