can partners show their income u/s 44AD

Eligibility Criteria to avail the Benefits of Presumptive Taxation Scheme under Section 44AD Below are the types of tax assesses who can adopt the provisions of presumptive taxation scheme Under Section 44AD : Resident Individual tax payers Hindu Undivided Families Partnership Firm (except LLP or Limited Liability Partnership Firm) Conclusion: Yes, partners can show their business income u/s 44AD.

In case of partner income received is in the nature of Remuneration, Interest on capital and Share of profit

and any other business carried by partner in his individual capacity (ignored)

so, for calculating income U/s. 44AD

Remuneration will not be allowed for section 44AD

Share of profit is not taxable, hence no need to consider

For Interest in come whether section 44AD can be opted or not need to be check

No partners can't declare income from firm under 44 AD. If they have separate business and turnover is under presumptive taxtion limit, then they can offer 44AD only for that business. Beacause when you say, I will pay 8% on Remuneration and Interest on Capital, it will. Not serve purpose for department.

Partners can't opt benefit of 44AD if they are receiving income from firm.

why not
as their Remuneration and Interest income taxable As Business Income

Akshay, it is chargeable under the head "PGBP" U/s 28 and not as Business income. Remuneration and IOC cannot be treated as Business under income tax definition.

thanks to all for sharing knowledge