Income tax saving in partnership firm
This query is : Resolved
10 October 2020
we going to file the income tax return partnership firm For the FY-19-20.
total turnover. 1,12,00,000
profit @7%. 7,84,000
remunatration 3lakh per partner. 5,60,400
total income. 2,23,600
30% tax. 67,080
4% cess. 2,683
tax payable. 69,763.
please tell me how to save the income tax
total turnover. 1,12,00,000
profit @7%. 7,84,000
remunatration 3lakh per partner. 5,60,400
total income. 2,23,600
30% tax. 67,080
4% cess. 2,683
tax payable. 69,763.
please tell me how to save the income tax
16 October 2020
Pay interest to partners at 12%, if provided in the partnership deed. Also, you have to pay interest under section 234A/B/C as advance tax is not paid.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
