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Preseumptive income of partnership firm

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 November 2014 In case of partnership firm, whether the presumptive income u/s.44AD should be more than 8% of the total turnover before allowing salary and interest to partners ?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
07 November 2014 yes. it has to be before providing for salary and interest to partners..

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