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Partners remuneration

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(Querist)
14 October 2017 As per section 44AD, partners remuneration is not allowed for AY 2017-18. If books of accounts are maintained but it does not fall under the criteria of tax audit, and has income of more than 8% of turnover after allowing such deduction. Can a partnership firm claim deduction for partners remuneration?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
14 October 2017 In the above case interest and remuneration can be claimed and to file form ITR-5.
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avrandco

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avrandco (Querist)
14 October 2017 Thank you sir, what if there is profit of less than 8%
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Dibin Divyakumar

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Dibin Divyakumar (Expert)
14 October 2017 if profit is less than 8% tax Audit is applicable.
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avrandco

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avrandco (Querist)
14 October 2017 Net profit is more than 8%. If Partners remuneration is claimed then it is less than 8%.
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