banner_ad

Partnership firm income more than 8 % can they claim rem

This query is : Resolved 
Profile Image

Profile Image

(Querist)
14 July 2017 please can u help me
I have refered both the provision u/s 44AB and sec44AD
Couldnt find the exact solution
no where it is written that if the firm income is more than 8% and files normal itr4 then firm cannot claim remuneration and interest
What if partnership firm have income more than 8% ?
Then also return should be file in sec 44ad under presumptive scheme
Or return can be file in ITR5 without doing audit if turnover less than 2 cr AND CLAIM REMUNERATION AND INTEREST
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
15 July 2017 Eligibility to claim interest and remuneration was in proviso to section 44AD (2). This proviso is omitted by Finance Act, 2016 w.e.f 1.4.2017.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details