I am an editor and writer who provides his services to a tech media company. I file returns under 44ADA.
Now, I am looking to enter into a partnership with a mobile+accessories seller, local shop, which is a partnership firm. Each month, a fixed amount will be paid as salary to all partners.
1. Can I claim relief for online profession as usual under 44ADA 2. Can I also claim relief for mobile shop partnership firm under 44AD at the same time? 3. If the mobile shop salary from partnership cannot be claimed under 44AD, can I still continue to claim relief for online services as professional under 44ADA?
02 September 2023
It's income from business or profession only. The salary from partnership firm should be treated as income from business or profession only as per income tax rules. One can't pay salary himself.