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Computation of partnership firm

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 December 2011 Sir
I am partner my partner ship firm .My firm gross receipts 1700000.00 and net profit 136000.00 U\s 44AD 8%.
computation of tax :

net profit : 136000.00

Less: Partner Salary : 72000.00
Less:partner capital interest: 36000.00

net income : 28000.00
Tax liability : 28000.00
please give me suggession my calculation are right .

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
Follow

09 December 2011 u can claim partner remuneration at 122400 or amount actually paid
Say amount actualyy paid is 122400 then after intt there will be loss
CA MANOJ GUPTA
JODHPUR
09828510543

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