44ad partners remuneration
jnj fincon (Prop) (88 Points)
26 April 2017
Whether Remuneration recd by partner from partnership firm, eligible u/s 44AD
jnj fincon (Prop) (88 Points)
26 April 2017
lalitha
(article trainee)
(22 Points)
Replied 26 April 2017
Prior to AY 2017-18 ( FY 2016-17) partner's remuneration is allowed as deduction under the income tax act though assessment is made under 44ad.
From AY 2017-18 (FY 2016-17) no such payment is allowed as deduction after the profit is determined on presumptive basis
jnj fincon
(Prop)
(88 Points)
Replied 29 June 2017
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