Rebate u/s 87A with 44AD

Originally posted by : Sagar padhi
	Sir,Dhirajlal Rambhia...A very big thank you for solving queries of mine and also others

Very Nice.... 

Refund of tax paid can be claimed under RFD-01 at the end of any tax period, which, I think. will depend upon your turnover/cycle.

My Dear Mr. Dhirajlal Sir.,

Please confirm again...

The assesee given the books of accounts today. i'll check it 2 or 3 days. Also my senior (FCA) not like that the late of books given by assessee. He ll ask before 20th Oct. Bcoz, He can't complete more tax audi cases in due date. I think he ll escape from this file...

So, What can I do this condition...?

" Please confirm again...

The assesee given the books of accounts today. i'll check it 2 or 3 days. Also my senior (FCA) not like that the late of books given by assessee. He ll ask before 20th Oct. Bcoz, He can't complete more tax audi cases in due date. I think he ll escape from this file...  

So, What can I do this condition...?"

What I have to confirm ?

If it is the case of partnership firm as referred earlier.......... and loss, assessed u/s 44AD (for eligible business)......... no need of tax audit.... just file as belated return...... u/s. 139(4)..... Loss can't be carried forward

Dear Sir.,

Thank you for the confiramation... Really thank you...

Sir,

Another case A small Partnership firm. T/O 30 to 35 lakhs in AY 2017-18...

It's required Tax Audit...? In PYs only filed without Tax Audit and get remuneration and Interests after the profit...

Current scenario not available AY 2017-18...

So, Tax Audit required Must or Not...?

In Case any availability u/s 40(b)...?

	Another case A small Partnership firm. T/O 30 to 35 lakhs in AY 2017-18... It's required Tax Audit...? In PYs only filed without Tax Audit and get remuneration and Interests after the profit... Current scenario not available AY 2017-18... So, Tax Audit required Must or Not...? In Case any availability u/s 40(b)...?

For eligible business minimum profit declared 6/8% before any deductions (or loss).... tax audit not mandatory............ Otherwise in most of the cases it would be applicable....

Good Morning....... Dear.........

Even for small Private Limited Company, there are various compliances which are required to be followed once it is incorporated: One of those is Statutory Audit of Accounts.......

While Partnership escaped from the statutory audit.......... so, tax audit !!!

Originally posted by : Dhirajlal Rambhia
	....While Partnership escaped from the statutory audit.......... so, tax audit !!!

Dear Sir.,

Really good Explanation... Thank you sir...

So, Partnership Firm can't escape from Tax Audit except 44AD... Am I correct Sir...?

( https://www.caclubindia.com/forum/details.asp?mod_id=431852&offset=1 )

" So, Partnership Firm can't escape from Tax Audit except 44AD... Am I correct Sir...?"

Yes, in another words, no tax audit provided firm doesn't exceed turnover limit with declaration of minimum 6/8 % profits....

Originally posted by : Dhirajlal Rambhia
	" So, Partnership Firm can't escape from Tax Audit except 44AD... Am I correct Sir...?" Yes, in another words, no tax audit provided firm doesn't exceed turnover limit with declaration of minimum 6/8 % profits....

Sir,

Please explain this one...

If the turn over is rs. 50 lakhs and we show the profit Rs. 400000 and above....

Then after we can book  remuneration and Interest...?

Originally posted by : RAJA P M
	Originally posted by : Dhirajlal Rambhia " So, Partnership Firm can't escape from Tax Audit except 44AD... Am I correct Sir...?" Yes, in another words, no tax audit provided firm doesn't exceed turnover limit with declaration of minimum 6/8 % profits.... Sir, Please explain this one... If the turn over is rs. 50 lakhs and we show the profit Rs. 400000 and above.... Then after we can book  remuneration and Interest...?

Sir.,

Please Reply Sir...