Is it compulsory to opt benefit u/s 44AD? A partnership firm which has never filed any return on presumptive income basis, can it continue like that further?
If answer of above is yes, than is it compulsory for such firm to get audit u/s 44AD when there is loss in particular year?
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Section 44AD
Replies (1)
Yes...
If the firm opt u/s 44ad and declare less than 8 percentage then The account will audited u/s 44AB...
If the firm opt u/s 44ad and declare less than 8 percentage then The account will audited u/s 44AB...
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