In a partnership firm, partners claimed remuneration amd interest on capital for the AY 2017-18.
Turnover is around 30 lakhs.
In 2017-18 did audit mandatory if partners claimed remuneration?
Department send a notice with demand. said that no remuneration is allow without audit. and imposed a demand.
Now please suggest a way to win the case anyway...
5 Replies
sabyasachi mukherjee
(27574 Points)
Replied 02 August 2020
Send me the demand notice at sabyasachimukherjee7098 @ gmail.com
Debiprasad Jana
(295 Points)
Replied 02 August 2020
@ sabyasachi mukherjee in AY 2017-18 audit is mandatory or not?
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 02 August 2020
@ Debiprasad ji....Can you let me know,
At that time, Partnership doing what.. Business or Profession ?
Total income under head Business and profession as disclosed in Return in A.Y 2017-18..?
At that time, Partnership doing what.. Business or Profession ?
Total income under head Business and profession as disclosed in Return in A.Y 2017-18..?
Debiprasad Jana
(295 Points)
Replied 02 August 2020
@ sagar doing business. if business profit was below 8%.
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 02 August 2020
Total income under head Business and profession as disclosed in your return in A.Y 2017-18 i.e remuneration+interest+other ?
Your income under PGBP, not of firm.
Your income under PGBP, not of firm.
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