WE ARE PARTNERSHIP FIRM OF FOUR PERSONS. WE HAVE CLAIMED PARTNERS SALARY IN THE PROFIT AND LOSS AND OUR iNCOME IS MORE THAN 8 % (i.e. MORE THAN THE PRESCRIBED LIMIT UNDER SEC 44AD).
NOW SINCE I HAVE TO FILE THE RETURN UNDER SEC 44AD, WHETHER I HAVE TO ADD BACK THE PARTNERS SALARY?
PLEASE ADVISE
CAclubindia
