Can partner of firm opt section 44ada
This query is : Resolved
23 September 2018
Urgent Query -
Can a partner of firm, receiving remuneration and interest on capital opt for Section 44ADA (Presumptive Taxation). The total amount of remuneration and interest is less than 50lacs.
Can a partner of firm, receiving remuneration and interest on capital opt for Section 44ADA (Presumptive Taxation). The total amount of remuneration and interest is less than 50lacs.
23 September 2018
No, partner of firm, receiving remuneration and interest on capital can't opt for Section 44ADA.
23 September 2018
Seems presumptive taxation can be opted by partner's of professional firm's for
remuneration and interest following the ITAT decision in Usha Narayanan,
[TS-6853-ITAT-2013(KOLKATA)-O],
remuneration and interest following the ITAT decision in Usha Narayanan,
[TS-6853-ITAT-2013(KOLKATA)-O],
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