banner_ad

partnership firm ITR

Others 333 views 5 replies
Respected Sir/ Ma’am

If a partnership firm have a gross turnover of Rs. 10,00,000/- and Net Profit before remuneration paid to Partner is Rs. 2,62,000/- out of Which Rs. 2,00,000/- paid to partners as remuneration.

Please suggest whether Tax Audit is required or Not and also which ITR form should be filled..  
Replies (5)

File ITR 5 with minimum 6/8% profit margin over bank/cash turnover; no tax audit liability.

can I file ITR 5 if profit is less then 8% after remunaration paid to partner?
ITR 4 under 44AD 8/6% profit margin
or ITR 5 will p&L BS
Originally posted by : shubham Mittal
 

can I file ITR 5 if profit is less then 6/8% after remuneration paid to partner?

YES,  with Tax audit report.

 

 

thanks to all


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details