sir.....whether partnership firm estimate the income 8%on gross receipts under section 44ad.
if yes ! after estimation whether eligible to deduct a partners remuneration & interest on capital .
after deducting that total income is less than 8%.then i am liable to get tax audit or not.
1. Yes for eligible business
2. No
3. The deduction not applicable u/s. 44AD
CAclubindia
