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
Menu
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..
Recent Threads
- How much cash deposit allowed in bank for loan rep
- Income Tax Compliance Notice for Donation
- Foreign share dividend tax can be claimed in Sched
- CAPITAL GAIN ON SALE OF PVT LTD COMPANY'S SHARE
- Treatment of Capital subsidy for calculating taxab
- Time limit under section 119(2)(b) of ITA for AY 2
- How much cash allowed to loan prepayment to bank
- Procedure for 'inter-unit job work' under GST Act
- Advances received and Advances adjusted - HSN Summ
- Tax on Sale of Companys Shares
Related Threads
CAclubindia
