Partner ship firm tax
This query is : Resolved
Quick Summary
Kollipara Sundaraiah
(Querist)
04 September 2020
What is minimum tax will payble in partnership ITR a.y.20-21.
05 September 2020
Taxation of partnership is flat 30% on all the profits earned during the year. However, there are deductions available for interest payable to Partners and Remuneration payable to Partners.
CA Praveen M R
https://prsrglobal.in/
CA Praveen M R
https://prsrglobal.in/
KAVIRAJA ADDANGADI
(Expert)
05 September 2020
Tax rate for firm is 30% + cess
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