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Incone tax section 44AD

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Student CA Final
68 Points Joined November 2013

Whether salary and interest will be allowed for deduction as per section 40 (b) in case of partnership firm addopting presumtive income under section 44AD??

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On 11 May 2021 at 07:29 Report
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Practice
1361 Points Joined June 2019
It shall be deemed to be allowed under 44AD. No separate deduction shall be provided.
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On 11 May 2021 at 08:45
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Chartered Accountant
24588 Points Joined November 2019
No, salary and interest paid are disallowed under section 40
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On 11 May 2021 at 09:41
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tax consultant
3306 Points Joined October 2018
Not allowed
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On 11 May 2021 at 21:15

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