Greeting Experts and members,
i had a query. i have 2 partner small company whose annual turnover for FY 2016-17 was 73 lakh.
the gross profit for the same is 30,72,000
After deducting partner remuneration and the interest the final net profit comes to around 9,50,000
Now my query is what will be beneficial for me? can i opt for 6% presumtive tax as all my taxation are through cheques only.
If yes then what will happen to the remuneration and other interest? can someone simplify for me?
with regards.
CAclubindia
