Very urgent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 December 2015
There are 2 partners in a firm, they take 60000 as salary/remuneration through bank,
Turnover was 36,00,000
they wants to file itr u/s 44ad
but when i prepare itr u/s44ad system showing allowable remuneration was 259200 but they take 60000*12=720000
so please tell me is it correct to file U/s44AD
very urgent
Turnover was 36,00,000
they wants to file itr u/s 44ad
but when i prepare itr u/s44ad system showing allowable remuneration was 259200 but they take 60000*12=720000
so please tell me is it correct to file U/s44AD
very urgent
18 December 2015
Partners Remuneration u/s 40 b Upto 300000 book profits or in case of loss Rs.150000/-90% whichever is higher , Balance book profit 60% allowed as Salary. anything excess paid will be dis-allowed will be added to Profit for which Firm has to pay Tax for Disallowed Portion.
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