26 November 2016
Dear Experts As per sec 40B upto 300000 profit 90% partners salaries can be claim and more then 300000 60% can be claimed however my turnover is 30 Lakh and 8% of 30 Lakh is 240000/- pls tell me for the partners salaries weather 90% of 240000/-will be claimed or 90% of actual NP after all expenses will be consider,
26 November 2016
Sir there are two partners weather 12% 12% interest can be claimed to both partners or only 12% interest will be claimed for both partners on their capitals