Presumptive profits of a partnership business
This query is : Resolved
JAYAKUMAR.M.G
(Querist)
29 December 2017
Dear Experts
whether a Partnership business can file Income Tax return under Presumptive basisfor AY 2017-18 where the dealer is a fruits merchant who's turn over is Rs 99 Laks for FY 2016-17 and in that case wehether they can cliam deduction of remuneration to working Partners
whether a Partnership business can file Income Tax return under Presumptive basisfor AY 2017-18 where the dealer is a fruits merchant who's turn over is Rs 99 Laks for FY 2016-17 and in that case wehether they can cliam deduction of remuneration to working Partners
29 December 2017
1. Partnership firm can opt for presumptive taxation.
2. Remuneration cannot be claimed if presumptive taxation is opted.
2. Remuneration cannot be claimed if presumptive taxation is opted.
29 December 2017
Yes... I agreed to Mr. B. Chackrapani Warrier Sir.,
If you opt u/s 44AD presumptive Scheme then the Partners can't avail the "Remuneration & Interest" in FY 2016-17...
If you opt u/s 44AD presumptive Scheme then the Partners can't avail the "Remuneration & Interest" in FY 2016-17...
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