15 September 2017
SIR, WE HAVE INCOME ARRIVED FOR RS. 21,39,400/- IN OUR FIRM FOR THE A.Y.2017-18. I HAVE TOTAL EXPENSES OF OUR FIRM RS.19,12,000/- I HAVE PARTNER SALARY RS.72000/- I HAVE INTEREST ON CAPITAL RS.146000/- AND NET PROFIT IS RS.9400/-
I HAVE PAID TAX RS.2900/-
NOW THE QUESTION IS THE ABOVE CASE IS COMES UNDER 44AD OR NOT ? THE SECOND QUESTION IS HOW TO CALCULATE 8% FOR FIRM FOR THE A.Y.2017-18?
CAclubindia
