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Profit under section 44ad
can i show the profit below 8% of a partnership firm
Replies (6)
Quick Summary
Yes, You can Show...
But in that case Maintenance of Books of account and Tax audit of Account u/s 44AB is mandatory..You are required to get books of Account audited in that case.
But in that case Maintenance of Books of account and Tax audit of Account u/s 44AB is mandatory..You are required to get books of Account audited in that case.
You can show profit below 8% and no tax audit is required if turnover does not exceed 1 crore
Yes you can show but you have to go for audit as said by sagar patel
Agree with ashutosh kumar ji
The answer I gave is when you show income under normal provisions but if you opt for 44AD then show below 8% or 6% as the case maybe maintenance of books and tax audit is required
Yes you can but then section 44AA(Maintenance of books of accounts) and 44AB(Tax Audit) will be applicable
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