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8 profit before allowing interest /remuneration or after allowing interest/remuneration
In case partnership firm having eligible business for sec 44AD. Minimum 8% profit to be declare is before allowing interest and remuneration of partners or after allowing interest and remuneration of partners ??
Replies (4)
After allowing all remuneration profit must be 8%/6%
8% is after allowing all expenses including remuneration & interest
Agree with Honourable CA Rashmi Gandhi mam
8% profit should relate to book profit in case of firm before allowing remuneration to partner as remuneration can be taxed in partners individual return
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