Return under 44AD by a partnership firm having loss

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....eturn under 44AD by a partnership firm having loss<br> Query (Issue) Started By: - sanjeev agrawal Dated:- 30-7-2017 Last Reply Date:- 3-8-2017 Income Tax<br>Got 2 Replies<br>Income Tax<br>Whether a p....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....artnership firm can file return U/S 44AD for AY 2017.18 with a business turnover of &#8377; 90 lakh and loss of &#8377; 10000,without getting accounts audited under section 44 AB..after paying interes....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t on capital to partners and remuneration as per partnership deed..section 44AD(2) prohibits deductions under section 30 to 38 but not under section 40 (b)...the income in this case is below the maxim....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....um amount which is not taxable... Reply By Kishan Barai: The Reply: In partnership firm, separate returns have to be filed by firm and partners, even if there is loss nil return has to be filed. Re....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ply By Nandan Khambete: The Reply: Yes.Partnership firm can file U/s 44AD even if actual loss is &#8377; 10,000/-. This will avoid denial of 44AD exemption in subsequent years due to discontinuing of....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 44AD benefit.<br> Discussion Forum - Knowledge Sharing ....