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Question ID : 44511

INTEREST AND REMUNERATION TO PARTNERS

T/o of P'nership firm is less than 2 Cr but more than 1 Cr. Not declaring u/s 44AD but filing with books of accounts. Profit after deducting interest to partners is less than 8%. Is Audit u/s 44AB liable or can we just upload along with balance sheet and PnL?

Posted by MITTI RAJESH DOSHI on Jul 11, 2023

Filed Under Profits & Gains of Business & Profession

Answer ID : 85104

Yes, to be audited under appropriate provision

Posted by SURAJ KUMAR CHOUDHARY on Jul 11, 2023