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Treatment of Loss in Partnership Firm

26 August 2019

I want to know the treatment of loss in partnership firm u/s 44AD & also when is tax audit applicable to Partnership Firm.

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3 Replies

Kapadia Pravin (17259 Points)
Replied 26 August 2019

Under 44AD when you show loss tax audit becomes applicable.

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Suchita Haldankar (8 Points)
Replied 26 August 2019

when tax audit is applicable to Partnership firm

Kapadia Pravin (17259 Points)
Replied 26 August 2019

under section 44AD - you have to show minimum 8% or 6% profit on turnover.
if you show less than above %ages or show loss then tax audit provisions become applicable

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