44ad
This query is : Resolved
CA Nidhi Kanabar
(Querist)
21 September 2017
Dear Sir,
I have shown more than 8% in 44AD after that deducted salary & Interest . After that deduction it is showing loss. But for A.Y. 2016-17 it was allowed to deduct salary & Interest after declaring 8%. Salary & Interest are claimed as per 40(b).
I have shown more than 8% in 44AD after that deducted salary & Interest . After that deduction it is showing loss. But for A.Y. 2016-17 it was allowed to deduct salary & Interest after declaring 8%. Salary & Interest are claimed as per 40(b).
Ashiwini Ballodia
(Expert)
21 September 2017
8% profit as per 44AD is after partner remuneration & interest on partner capital
21 September 2017
Yes....
In AY 16-17 profit after remuneration and interest is granted....
In AY 17-18 it's not allowed after profit (8%)....
CA Nidhi Kanabar
(Querist)
25 September 2017
SIR my Query is what to so now that i got notice From income tax Department that ypu have not get Audit and Claimed Loss
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