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This query is : Resolved
13 July 2015
If partnership firm wants to declare profit u/s 44ad which itr should it file???
Since, sec 44AD overrides sec 28 to sec 43C, wouldn't it also override sec 40(b) ?
14 July 2015
The only return a partnership firm can file is ITR 5.
14 July 2015
Yes Agree with the learned expert file ITR 5.
But Section 44Ad does not overrides 40b.
So, u can claim expenditure of parner salary and interest to partners accordingly.
But Section 44Ad does not overrides 40b.
So, u can claim expenditure of parner salary and interest to partners accordingly.
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