Partnership Firm and Section 44AD
This query is : Resolved
Mahabir Prasad Agarwal
(Querist)
02 September 2024
Whether a partnership firm (newly formed during FY 2023-24), can declare his income U/S.44AD , if total turnover is less than 2.00 crore (Entire bank transactions) ?
If yes, Whether Interest and remuneration paid to partners may be deducted further from the declared income ?
If yes, Whether Interest and remuneration paid to partners may be deducted further from the declared income ?
Dhirajlal Rambhia
(Expert)
02 September 2024
1. Yes.
2. No.
2. No.
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