Partnership Firm and 44AD

for your second and third anser that 8% is definatly before remunaration and interest you have to provide for remunaration and interest sepreatly, and for audit also it is 8% before remunaration and interest only.

1. First of all Presumptive Taxation is applicable only if total turnover does not Rs.6000000/- & in case of Professional Rs. 6000000/- Will be replaced by Rs 1500000/-....8% profit criteria is before partners remunerations...ie if turnover is Rs 5000000/- and partners remuneration as per sec 40 (b) is 300000....then taxable profit will be Rs.100000/-

2. For the purpose of audit also the above limits are applicable, however if u show profit less than 8% of turnover(before remuneration & interest) then audit is required....

yes i agree with manoj

agree with Mr. Nimit & Manoj