HELLO FRIENDS, PLS. TELL ME IF A PARTNERSHIP FIRM SHOWS THE PROFIT BEFORE PROVIDIN SALARY TO PARTNERS MORE TAHN 8% BUT AFTER PROVIDING THE SALARY TO PARTNERS IT SHOWS THE PROFIT LESS TAHN 8%.
IN THIS CASE TAX AUDIT IS NOT APPLICABLE BECAUSE PROFITS BEFORY SALARY AND INTEREST IS MORE THAN 8% BUT IN ITR-5 THERE IS NO SEPERATE COLUMN TO SHOW THE SALARY TO THE PAERTNERS IN P/L.
SO WHAT CAN I DO CAN I SHOW THE SALARY TO PARTNERS IN THE SAME SALARY TO EMPLOYE COLUMN
HOW CAN DEPARTMENT KNOWS THAT IT IS ONLY PROVIDING THE SALARY WHICH MAKES THE PROFIT LESS THAN 8%.
PLS. HELP ME.
I AM IN GREAT NEED.
CAclubindia
