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


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.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries