Patnership Firm Audit Mandatory.
Sandeep Jain (Pivate) (1426 Points)
23 July 2024In patnership firm Sale Rs. 60 Lacs Net profit Rs. 20000/- Can we file ITR without Audit? or audit mandatory in this case. Which ITR form we need to file ?
Thank you.
Sandeep Jain (Pivate) (1426 Points)
23 July 2024
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(171563 Points)
Replied 23 July 2024
ITR 4 if filing under sec, 44AD IT act; otherwise ITR 5.
Tax audit mandatory only if opted out of sec. 44AD in any of precedding 5 years; otherwise no.
Sandeep Jain
(Pivate)
(1426 Points)
Replied 23 July 2024
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(171563 Points)
Replied 23 July 2024
For filing ITR of partnership firm consider only the data related to its PAN, not earlier one.
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