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Can a partnership firm itr be revised for to do 44AD tax audit?
Firms ITR been filed n sent to CPC..can it be now revised n do tax audit 44AD..coz after int n remuneration profit less than 8%..
Replies (2)
but 8% presumptive tax is to be paid on turnover before charging such expenses .....i guess....
u/s 44AD there should be at least 8% profit even after interest and remuneration to partners (w.e.f AY 2017-18).
Even if it is not so you will get a defective notice stating that either to show 8% or to Audit your books
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