It treatment on partnership firm
This query is : Resolved
17 August 2019
Respected Sir,
We are having one Partnership Firm client, for claim Partner Remuneration U/s 40(b) from Book profit Audit from Chartered Account is Mandatory or not. Our Client Having turnover only 6,50,000. if he Declare profit without partner remuneration he will pay Rs.15600 plus Cess. Is there any solution for claim Partner remuneration without Audit
We are having one Partnership Firm client, for claim Partner Remuneration U/s 40(b) from Book profit Audit from Chartered Account is Mandatory or not. Our Client Having turnover only 6,50,000. if he Declare profit without partner remuneration he will pay Rs.15600 plus Cess. Is there any solution for claim Partner remuneration without Audit
26 September 2021
He can declare just 8% profit over 6.50 L turnover; u/s. 44AD and avoid tax audit.
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