44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 September 2011
we r a partnership firm our turnover for the year 2010-11 is rs 3626000.
our net profit before remuneration to partner is 292000.
so we r liable for tax audit or not.
thanks in advance
our net profit before remuneration to partner is 292000.
so we r liable for tax audit or not.
thanks in advance
15 September 2011
Since the same is more than 8%, therefor no need of tax audit.
As in 44ad, remuneration to partners is exluded from the 8% limit.
As in 44ad, remuneration to partners is exluded from the 8% limit.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
15 September 2011
thank you very much
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