Urgent
Querist : Anonymous
Suppose in case of a partnership firm. Particulars are as follows -
gross receipts - 1000000/-
gross profit - 100000/-
expences - 20000/-
net profit - 80000/- u/s 44AD
interest and salary to partners - 50000/-
Now filing column 51 of part P&L of itr5 -
gross recipts - 1000000/-
gross profit - 100000 lac
expences -
net profit -
In the coulumn of expences I should fill only Rs. 20000/- or I should fill 20000/- + 50000/-
Please advise me.
.
Querist : Anonymous
how is the idea if I fill 20000/- as expences here and rest 50000/- is to fill in -
(any other amount allowable as deduction)column 30 of Part BP
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