Menu
Partnership firm
partnership firm 8 % tax calculation is partners shares or before interest and remunaration
Replies (2)
No deduction of remuneration &/or interest after arriving at 6/8% (or more under sec 44AD) as deemed profit of the firm.
The presumptive profit under 44AD shall be minimum 6% / 8% or actual whichever is higher. This calculation is on turnover or Gross receipts .
That means 92% /94% or less shall be allowed as presumptive expenses (which will be inclusive of Remuneration and interest payment to partners).
No seperate Deduction for payment to partners Remuneration and interest.
That means 92% /94% or less shall be allowed as presumptive expenses (which will be inclusive of Remuneration and interest payment to partners).
No seperate Deduction for payment to partners Remuneration and interest.
Recent Topics :
- Hi experts need help
- How to object stamp duty value if property is sold
- Residential House property and it's loan can shown
- Income Tax Department Website Error While Importin
- Loan & Joining bonus to new employees Chief Ma
- Income Tax NUDGE Notice – Gift of Shares fro
- Is DIR-3KYC Needed
- Looking for a study buddy intermediately Jan 2027
- How to correct a NIL GST return filed by mistake w
- Is it legally permissible not to report F&O lo
Related Topics :
CAclubindia
