Dear Sir,
I have partnership firm & my Gross receipt is 26 lakh but my net profit is below 6% so is it liable for tax audit.
Menu
Partnership itr file without Audit report
Replies (2)
Yes Under Section 44 AD of Income tax Act 1961 Tax Audit will be Applicable
Not if it be your first year of operation, or presumptive assessment u/s. 44AD was not opted in preceding year/s.
Recent Topic
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
Related Topics
CAclubindia
