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Presumptive Tax - Income TaxExtract As per section 44AD , even a partnership firm can avail the benefit of presumptive tax. In view of omission of proviso to section 44AD(2) , 6% or 8% of turnover will be treated as taxable profit after giving effect to remuneration and interest on capital of partners. Let us assume 6% of turnover of a firm works out to ₹ 10 lakh. In such a situation, whether working partners have to offer salary which is deemed to have been allowed as income in their hands. If yes, how to arrive at the same.
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