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Querist : Anonymous

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Querist : Anonymous (Querist)
14 March 2012 I HAVE PARTNERSHIP FIRM.TOTAL TURNOVER 15,00,000.00 & NET PROFIT 49000. AFTER PARTNER REMUNERATION & PARTNET INTS. HOW TO CALCULATE 8% IN 44AD.
I HAVE CALCULATE THIS TYPE IN COMPUTATION.

49000 NET PROFIT AFTER PARTNET INT&REMUN.
48700 PARTNET INTS
48000 PARTNER SALARY
=====
145700.00

ITS COME IN 44AD @8%.PLEASE HELP
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
14 March 2012 Proviso to Section 44AD(2) provides that partner's salary and interest shall be allowed as FURTHER deduction from the presumptive income, subject to the limits in Section 40(b).
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