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Treatment of Loss in Partnership Firm
I want to know the treatment of loss in partnership firm u/s 44AD & also when is tax audit applicable to Partnership Firm.
Replies (3)
Under 44AD when you show loss tax audit becomes applicable.
when tax audit is applicable to Partnership firm
under section 44AD - you have to show minimum 8% or 6% profit on turnover.
if you show less than above %ages or show loss then tax audit provisions become applicable
if you show less than above %ages or show loss then tax audit provisions become applicable
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