WE ARE PARTNERSHIP FIRM OF FOUR PERSONS. WE HAVE CLAIMED PARTNERS SALARY IN THE PROFIT AND LOSS AND OUR iNCOME IS MORE THAN 8 % (i.e. MORE THAN THE PRESCRIBED LIMIT UNDER SEC 44AD).
NOW SINCE I HAVE TO FILE THE RETURN UNDER SEC 44AD, WHETHER I HAVE TO ADD BACK THE PARTNERS SALARY?
PLEASE ADVISE
Flat 8 % of your sales will be your net profit.
CA Suraj Garg & Associates
New Delhi
CA Final
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Abic and Mani Chartered Accountants
Kottayam
B.Com
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Malhotra Rajesh & Associates
New Delhi
B.Com
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CCI
Pro
CAclubindia
