https://www.taxtmi.com/forum/issue?id=112476 A partnership firm may elect the presumptive taxation regime and file return under section 44AD even if actual business results show a loss; the election applies the deemed profit computation and excludes certain business deductions while payments like interest on capital and partners' remuneration remain matters of internal distribution. The firm must file its own return even when reporting a loss, and the choice to adopt the presumptive basis affects future compliance and audit obligations. en-us Sun, 30 Jul 2017 19:42:35 +0530 Thu, 23 Jan 2025 15:55:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=112476 A partnership firm may elect the presumptive taxation regime and file return under section 44AD even if actual business results show a loss; the election applies the deemed profit computation and excludes certain business deductions while payments like interest on capital and partners' remuneration remain matters of internal distribution. The firm must file its own return even when reporting a loss, and the choice to adopt the presumptive basis affects future compliance and audit obligations. Discussion-Forum Income Tax Sun, 30 Jul 2017 19:42:35 +0530 https://www.taxtmi.com/forum/issue?id=112476