sanju (Accountant) (348 Points)
17 September 2011friends ,
is there any restrinction regarding minimum profit that sholud show in return? i heard that minium 10 % profit should shown in return for A.Y 11-12. is it true? ours is a partnership firm. please clarify my doubt friends,
THANKS IN ADVANCE freinds.
Mohammad Afroz Ahmed
(Article student)
(51 Points)
Replied 17 September 2011
Dear Sanju,
There is no such requirement. It would be better if you show the true position of your business.
Thank You.
CAclubindia
