No. The provisions of section 44AD override sections 28 to 43 C of the IT Act.
Hence, the question of any other deduction as per normal provisions does not arise.
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under section 44AD, it is deemed that expenses allowable u/s 30 to 38 are allowed and remuneration to partners is covered u/s 40(b).
hence it is allowable
hence it is allowable
Finance Act 2016 has deleted the proviso appearing in Section 44AD (2), consequent to which, deduction of the partner's interest and salary is not further allowed for a partnership firm opting for presumptive scheme under Section 44AD of the Act.
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Yes, as per recent amendment, the remuneration to working partners is not allowed to be deducted from such presumptive income assessed.
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