Firm

Tax planning 136 views 2 replies

ASST-YEAR 2017-18   PARTNER SHIP FIRM  WORKING METHOD   AUDIT U/S 44AD AND NORMAL  ( PARTNRE SALARY. INTEREST)

Replies (2)

now it is not allowed for 44 ad 

advance tax provisions also apply for 44ad

go with regular itr 

Since partners remuneration and interest on capital is not separately allowed for partnership firm from AY 2017-18 u/s 44AD, therefore section 44AD in a way, lost relevance for partnership firm. Therefore it is advisable to go for tax audit u/s 44AB.


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