the profit taken for determination of percentage 8% whether after remuneration or interest
before remuneration or interest
Menu
partnership
Replies (5)
After all such deductions.......
After remuneration & interest....
the deduction in respect of interest and remuneration was earlier considered as a part of net profit for the purpose of section 44AD up to f.y. 2015-16 but from the f.y. 2016-17 there is a restriction on it and hence net profit should be 8 % after charging int. and rem. for the same.
the books to be audited u/s 44ab if less than 8%
Yes, provided any positive income........
Related Topics
CAclubindia
