Tax audit under section 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 September 2016
Whether profit of 8% of Turnover considered before allowable partners remuneration or after partners remuneration, pls provide clarification in this regard.
Turnover is below 1 crore for f.y. 15-16, refer section 44AD
Turnover is below 1 crore for f.y. 15-16, refer section 44AD
14 September 2016
before allowing salary to partners etc.
https://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx
https://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx
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