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For claim expenses under 44ad

This query is : Resolved 
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(Querist)
19 March 2016 Affter declare 8% profit of gross receipt, can we claim any expenses other than partner remunaration.
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Ankur Singhal

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Ankur Singhal (Expert)
19 March 2016 Dear
Only in case of a partnership firm salary and interest paid to partners can be deducted subject to limit specified by section 40 of income tax act.
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MANISH SHARMA

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MANISH SHARMA (Querist)
19 March 2016 That Means, A Entity other than a partnership firm not claim any expense affter declare profit (8%) of gross receipt
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Ankur Singhal

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Ankur Singhal (Expert)
19 March 2016 Yes You are right.
This benefit is available only to the partnership firm.
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