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44ad

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(Querist)
21 September 2017 Dear Sir,

I have shown more than 8% in 44AD after that deducted salary & Interest . After that deduction it is showing loss. But for A.Y. 2016-17 it was allowed to deduct salary & Interest after declaring 8%. Salary & Interest are claimed as per 40(b).
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
21 September 2017 8% profit as per 44AD is after partner remuneration & interest on partner capital
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RAJA P M

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RAJA P M (Expert)
21 September 2017 Yes.... In AY 16-17 profit after remuneration and interest is granted.... In AY 17-18 it's not allowed after profit (8%)....
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Nidhi Kanabar

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Nidhi Kanabar (Querist)
25 September 2017 SIR my Query is what to so now that i got notice From income tax Department that ypu have not get Audit and Claimed Loss

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