Section 44ad
Querist : Anonymous
Section 44AD Applicable in case of partnership firm or not.
if partnership firm only have interest income and share of profit accrued from other partnership firm in which firm is partner.
and no expenses as such.
so normal profit is comin very much and if i go with 44AD, only 8% i have to take.
pls suggest ?
Querist : Anonymous
so tax is 30%.
is i go with 44AD, then only 8000 (8%) profit and 30% of 8000 i have to pay.
is this possible.
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