VIKAS KUMAR SHARMA
(GST Practioner)
(734 Points)
Sir
Partnership firm total sale Rs 28 lac purchase Rs 13 lac partner's salary Rs 3.6 lac(both) net profits show after Rs 1.80 lac
Now query is US 44ad can opted? If yes what tax liability?
Regards
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(193786 Points)
Replied 12 August 2019
For eligible business sec. 44AD can be opted with minimum 6/8% profit margin. (Partner's remuneration & interest deemed to be inclusive).
subhagan sreerangam
(7057 Points)
Replied 12 August 2019
Shivam RC
(Student)
(23683 Points)
Replied 12 August 2019
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