sir, my client firm gst sales RS.130000 only so I am use 44ad for firm at 8 percent. rs10400 as netprofit and tax is 3250. now firms as lower sales so partner salary and interest will not provide sir.
is it correct above method sir ?
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firm use 44ad
Replies (8)
If opt to 44ad then no way for book Partners Remuneration & Interest in any of the Turn over value...
Share the profit amount to partners account as per their share ratio...
Share the profit amount to partners account as per their share ratio...
ok sir, above method is correct or incorrect sir
As per Your query (and your view is Correct.)
But, I think You are not get 44ad related details)
But, I think You are not get 44ad related details)
sir, what 44ad related details, I am not understand
Details means act or provisions...
as per sec 44ad partners can't claim Remuneration and interest. That's all.
as per sec 44ad partners can't claim Remuneration and interest. That's all.
NOT MANDATORY FOR CLAIM PARTNERS SALARY & INTERST ON CAPITAL, IF DEED IS SPECIFIED SIR, BECAUSE INSUFFICIENT SALES SO NO SALARY & INTEREST ON CAPITAL SIR. IF NEXT YEAR SUFFICIENT SALES I WILL PROVIDE SALARY & INTREST SIR
(IF NEXT YEAR SUFFICIENT SALES I WILL PROVIDE SALARY & INTREST SIR)
No... If ITR will be file u/s 44ad
No... If ITR will be file u/s 44ad
yes as per the section it is not permissible to allow aforesaid expenses as deductible
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