How to show 44ad income of partnership firm in itr-5?
This query is : Resolved
L.Gopala Krishnan
(Querist)
19 March 2015
Hi Experts,
Kindly say that how the 44AD income of the partnership firm and it's Salary & Interest on Capital in ITR-5? One of the client got notice u/s.139(9) ie.,the return is considered as defective by AO. Help me in this regard...
Kindly say that how the 44AD income of the partnership firm and it's Salary & Interest on Capital in ITR-5? One of the client got notice u/s.139(9) ie.,the return is considered as defective by AO. Help me in this regard...
Soumitra Basu
(Expert)
20 March 2015
GO TO PROFIT AND LOSS. SHOW GROSS RECEIPT. SHOW NET PROFIT BEFORE DEDUCTION OF INTEREST ON CAPITAL AND PARTNERS REMUNERATION.
GO TO BP. SHOW INTEREST ON CAPITAL AND REMUNERATION AT POINT NO 31 - ANY OTHER DEDUCTION.
PUT THE NET PROFIT BEFORE INTEREST ON CAPITAL AND REMUNERATION IN 44AD. IN TOP IT WILL AUTOMATICALLY REDUCE THE NET PROFIT.
GO TO BP. SHOW INTEREST ON CAPITAL AND REMUNERATION AT POINT NO 31 - ANY OTHER DEDUCTION.
PUT THE NET PROFIT BEFORE INTEREST ON CAPITAL AND REMUNERATION IN 44AD. IN TOP IT WILL AUTOMATICALLY REDUCE THE NET PROFIT.
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