Partners Salary in itr 5

Efiling 7314 views 4 replies

Im filing ITR-5 of a partnership firm..

In the efiling form were shall i claim deductions under section 40..which is for salary paid to partners and interst paid to them...

Replies (4)

 

You have to mention it in S.no. 8(f)

Ya u can take deduction but in there r some limit regarding claim deduction of interest & salary, if u want to take deduction of interest then only 12% on capital can be taken another will disallow.


in schedule "BP", at column no. 30- Any other amount allowable as deduction., in that colum u mention the  total amount of salary & int. of all  partners.

Dear friends.,

My query is where to enter the amount paid as remuneration to partners in ITR 5 ?

I want to know how to go ahead with the form filling......

thanks and regards

 

 

 

Lokesh Bezzam


CCI Pro

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