one of my friends working with partnership firm which provides cleanical services to pharmaceuticals company's.
last year ie a.y 18-19 firm audit had been conducted u/s 44ada.
in the present year firm turnover is 72lacs.and tds deducted u/s 194J.
so my question is
is their any liability of tax audit in current year if firm profit is RS 800000/-
or can firm declared his profit u/s 44ad?
Menu
Liability for tax audit u/s 44ada
Replies (1)
Tax audit u/s 44AB is mandatory if turnover exceeds 50 lacs in case of specified profession
Recent Topics :
- Financial statements for non corporate entities
- Hi experts need some help
- Is SAP FICO a good career option for finance and a
- Direct Cost booking
- TDS on Property Purchase Paid
- Cash Purchase Above ₹10,000, ITR/40A(3) Trea
- TDS on dividend to non resident shareholders
- Best CA Inter classes in Laxmi Nagar for Group 1?
- Gst refund
- Compliance under Society Act 1860
Related Topics :
CAclubindia
