Sec 44ad
This query is : Resolved
28 July 2017
There was an amendement in section 44AD that partnership firm have to show profit at 8% after allowing for partners salary and interest ?? It is applicable from which assessment year?? Plz clarify
28 July 2017
There was an amendment in section 44AD that partnership firm have to show profit at 8% before allowing for partners salary and interest. It is applicable from assessment year 2017-18.
29 July 2017
That means that after showing 8% profit, they can still claim Interest on Partners Capital and Salary without Audit??
29 July 2017
No....
If you opt u/s 44AD you can show profit 8% and above. The 8% is after calculate Remuneration and Interest to Working partners.....
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29 July 2017
No salary and interest can be deducted from 8% profit.
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