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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)
Quick Summary
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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