Section 44ad
This query is : Resolved
Lalit Patel
(Querist)
18 September 2013
Is Net Profit before Interest and salary to partners to be considered while comparing with 8% of Gross Receipt under section 44AD ?
CA Mohit Bansal
(Expert)
18 September 2013
Yes. From profits calculated u/s 44AD, you shall be allowed deduction of remuneration and interest to partners.i.e., profits u/s 44AD are before deduction of the said expenses.
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