If a partnership firm opts for presumptive income then how will the income of partner from pgbp from that firm be calculated. Will it be on profit sharing ratio of 8% of firms turnover or some other method?
Menu
Income of partner?
Replies (2)
Income (rather shares) of partners after presumptive assessment of the firm will be tax-free in the hands of partners......
Dear Dhirajlal Sir.,
Good Morning....
If I calculate Remuneration and Interest after 8% profit ll be shown is correct or not...?
Above said way audit ll be applicable...?
Good Morning....
If I calculate Remuneration and Interest after 8% profit ll be shown is correct or not...?
Above said way audit ll be applicable...?
Recent Topics :
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
- TDS on rent paid to RNOR Landlord. Can RNOR US tax
- PAN CANCELLATION OF A DISSOLVED PARTNERSHIP FIRM
- Transport agency accounting entry in purchase &
- REGARDING HSN CODE FOR WASHING JOB CHARGES
- Advance Tax Due Date 2026
Related Topics :
CAclubindia
