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Questions relating to partnership

Others 172 views 3 replies

We are a partnership firm, having sales turnover of Rs. 60.00 lacs in the A.Y 2021-22. After providing interest on capital and salary to partners totally amounting to Rs.3.60 lacs, our net profit as per books of account is Rs.75000 . Whether i can file my return of income admitting income of Rs.75000? what will be the consequences if provisions of sec 44 AD are initiated? 

Please clarify  

Replies (3)
Yes you can file income for 75000 rupees

Thank for the reply,

Sir but what about sec 44 ad

Show 8% profit on turnover


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