Hi,
A Partnership Firm income from professional is 30 Lacs F.Y 23-24
Net Income Has been loss after expenses as booked.
My Query is
1.Auduit is Mandatory or Can file as Normal
2. can File u/s 44AD
Regards
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Partnership firm Professional Income
Replies (2)
- Yes can file under normal assessment; but loss cannot be carried forward now.
- No.
If your Gross receipts is Rs. 30 Lacs and you are not LLP than no requirment of audit. You can availed the benifit of Section 44AD or 44ADA on the basis of nature of busuness..
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