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in partnership firm turnover Rs.4000000/- part net remuneration is allowed u d 44AD
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No remuneration to partners deductible, when firm assessed u/s. 44AD
Finance Act 2016 has deleted the proviso appearing in Section 44AD (2), consequent to which, deduction of the partner's interest and salary is not further allowed for a partnership firm opting for presumptive scheme under Section 44AD of the Act.
on RS.4000000/- @ 8%= 320000/- tax 11856
| on RS.4000000/- @ 8%= 320000/- tax @ 31.2% ... Rs. 99840/- | ||
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