Partners remuneration & interest

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Querist : Anonymous

Querist : Anonymous (Querist)

10 July 2017 Dear Experts.
pls clarify :- whether partners salary & interest is allowed for AY 2017-18 or only interest is allowed?

Thanks & Regards
Subhi

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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10 July 2017 Both partners salary & interest is allowed for AY 2017-18. It is not allowed under 44AD profit calculation.

Querist : Anonymous

Querist : Anonymous (Querist)

10 July 2017 sir does that mean partners salary & interest is Allowed only for Tax audit 44AB not for 44AD

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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10 July 2017 Read 44AD [provisions you will understand.

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