Tax planning
This query is : Open
ankeshrawala
(Querist)
01 June 2015
Ekk partnership firm hai unka yearly income 5lacs hai.2 paetner hai.this is their first year.they do not want to give any tax(income tax). Can any one pls suggest some planning
kamal p keswani
(Expert)
09 June 2015
Pay remuneration and interest to partners as allowed by act and mentioned in deed. This will help to reduce profit. If any profit remains after this, tax will have to be paid on balance profit.
Also, above payments become income of partners so partners taxable income have to be kept in mind.
Also, above payments become income of partners so partners taxable income have to be kept in mind.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
