Tax on partnership firm
This query is : Resolved
12 December 2013
If Partnership Firm Gross Professional Receipts was Rs 5,26,000/- & showing profit of Rs 22,800/- Firm was liable for Tax Audit u/s 44AB or he needs to show profit 8% of(5,26,000/-) ie Rs 42080 s & pay tax @Rs 13,000/-. Please let me know any alternative available to save the tax.
CA Hardik Bunha
(Expert)
12 December 2013
22800 8 30% = 6840 is your tax which is less than rs 13000/-.
this is a alternative available.
this is a alternative available.
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