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Patnership firm

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(Querist)
03 March 2018 Dear Sir

We have a partner ship firm (50-50% ) both partner. in the end of march net profit near about 80-85 Thousand. so please telll me how much income tax we have to pay. I already deposit 15000/- In December.

Please suggest
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Arpit

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Arpit (Expert)
03 March 2018 rate of tax on partnership firm is 30% plus 3% cess
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Chinay Solanki

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Chinay Solanki (Expert)
03 March 2018 The information provided by you is insufficient. You have not mentioned whether the net profit is after or before the adjustment of Interest and remuneration to partners. If it’s after remuneration then the reply given above is correct. If it’s before interest and remuneration, then kindly provide for the same, if the terms of the partnership fees allows payment of interest to partners.
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Amandeep Singh

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Amandeep Singh (Querist)
05 March 2018 Dear Sir,
Its after, in every month we paid (20, 20 ) thousand to each partner.
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