SEC 44AD and ITR4S

AK.Mohan Raj Bharathi (CA in Practice as a Proprietor)   (43 Points)

03 June 2011  
1. In case of Partnership Firm, ACT says Sec40(b) can be allowed against the presumptive income, but there is no provision or column in the ITR4S for the same. How we can claim the deduction? Are we have to use ITR5 for the partnership firms. Please clarify.
2.If the assessee is running a wholesale business and opted for presumptive income u/s44AD and he is also getting remuneration and salary from the partnership firm. In this case, how we can treat the aforementioned income in ITR4S?