44AD VS 44AB
This query is : Resolved
24 June 2024
Partnership having turnover around 60 lakhs filing first time income tax return than is it compulsory to carry out audit if shows profit lower than 6% as per 44 AD ( as 44AB Limit is 1 crore)
or
Can we file return showing lower profit below 6% with profit and loss account and balance sheet assuming not opting for 44AD
or
Can we file return showing lower profit below 6% with profit and loss account and balance sheet assuming not opting for 44AD
24 June 2024
File return showing lower profit below 6% with profit and loss account and balance sheet assuming not opting for 44AD
24 June 2024
then their is a no need for audit ??
24 June 2024
Yes, no need for audit.
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