I heve one partnership firm client, having turnover upto 20,00,000. But net profit after transfer remuneration to partner is 0 (Zero)
Can this firm required to audit?
Menu
Partnership firm Tax audit query
Replies (3)
Quick Summary
Yes Tax Audit u/s 44ad will be applicable as the Profit is less than 6% of Turnover
No tax audit is not required. It is only required in this case if your client filed his return u/s 44AD in last 5 years.
Mr aakarsh is absolutely right
Recent Topics :
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
Related Topics :
CAclubindia
