The Partnership firm has opted for Presumptive Taxation u/s 44AD.
How to calculate Partners Remuneration and Profit for their individual ITR filing. How to calculate BOOK PROFIT.
Menu
How to calculate BOOK PROFIT for calculation of Partners Rem when firm has opted u/s44AD
Replies (4)
There will be only share of profit under 44AD
No share of profit under Sec 44AD
Partnership Remuneration calculated on the basis of book profit, so first calculate your book profit. In income tax profit declared 8% after considering remuneration and interest.
If you consider under remuneration then you have to pay tax again..
Consider everything under share of profit since partnership firm has already paid taxes under presumptive Taxation
Consider everything under share of profit since partnership firm has already paid taxes under presumptive Taxation
Recent Topics :
- Representative assessee
- Investment Income as Business Income for Sec. 44AD
- In ITR 4 u/s 44ADA what amount we shoud show under
- Salary expenses how to treat
- Pos related issue
- Gift of unlisted shares to friend upon marriage
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
Related Topics :
CAclubindia
