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(Querist)
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) ?
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CA Kapil Thacker

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CA Kapil Thacker (Expert)
14 July 2015 The only return a partnership firm can file is ITR 5.
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Ankur Singhal

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Ankur Singhal (Expert)
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.
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CMA Gul S

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CMA Gul S (Expert)
14 July 2015 I agree with Mr Ankur
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