19 June 2018
As per Section 28(v) of the Act, Partners remuneration is treated as business income, so can partners opt for filing this income under presumptive taxation? if yes under section 44AD or 44ADA( i.e 8% or 50%)?
19 June 2018
Sir, don't you think this would ruin the intention of the law? I mean to ask isn't it a loophole within the law?.. because there would be no expenditure for the partners and even if there are any they would claim it in the firm as expenditure.. so won't the partner take undue advantage of the provision by opting to pay tax on 8% or 50% of such remuneration?
19 June 2018
Partners remuneration part is consider to be income, same can not be declared again under 44AD or 44 ADA, because same already Exps claimed by firm, full amount offered to tax,.
CAclubindia
