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44aa in ay 2017-18 a partnership firm without tax audit

This query is : Resolved 
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(Querist)
22 February 2018 Dear Sir / Madam.,

A Small Partnership Firm (2 person) doing "Manufacturing & Servicing".

They earnedin FY 2016-17 -  Rs. 37,57,800...

Expenses - Rs. 29,38,550

Depreciation - Rs. 33550... Total Book profit Rs. 785,700 (Without Remuneration 7 Interest)...



As per section 40b allowable remuneration Rs. 5,61,500... If they they will avail then fall under 44AB. but, They don't want 44AB.. 

Also they will be file U/s 44AA and will Pay Tax @ 8% and Above...

If they file @ 8% then the Net Profit Rs. 300650... If they will show the Value the the balance Rs. 261,000 will be book as Remuneration to Partners account...



Please solve my query...
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RAJA P M

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RAJA P M (Expert)
23 February 2018 Yes... You can as per Your view..
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sudarshan

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sudarshan (Expert)
23 February 2018 in 44AD interest and remuneration to partners not allowed
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S ELAVARASI

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S ELAVARASI (Querist)
24 February 2018 Yes... But, I want about U/s 44AA....
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