Remuneration to parten u/s 40b
This query is : Open
10 September 2017
After disallowance of deduction of partner remuneration for sec 44ad will it be taxable in the hands of partner as an individual entity for ay 17-18
Message likes :
1 times
10 September 2017
after disallowance
11 September 2017
Remuneration is always taxable in hands of partners.
11 September 2017
(after disallowance)
I can't understand this one bcoz, U/s 44AD remuneration allowed before 8%. Then what you mean DISALLOWANCE....?
11 September 2017
from fin act 2016 remuneration and interest are not deductible from the profit @8% so what to do in hands of partner
11 September 2017
Yes.
You are exactly come to the point... Your all deductions including remuneration and Interest deducted then after the profit is 8%. It's available u/s 44AD...
If you ll be deduct the remuneration and Interest after 8% of the profit then it's not available u/s 44AD. You can go to 44AB as Audit....
Before deductible the remuneration & Interest it's taxable in partners hand...
If not its deducted after 8% it's not taxable. Bcoz, It's also taxed....
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