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This query is : Resolved
09 June 2017
As per ammendment in fincance act 2016,remuneration and salary to partners are no longer allowed as deduction.So if income after remuneration and interest is below 8 % would the firm be subject to tax audit.? Please clarify
09 June 2017
Yes if income after interst & remuneration ius less than 8% you are liable to audit u/s 44AB
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