Partnership firm

partnership firm 8% is share of profit or before interest and remuneration
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Quick Summary
This discussion clarifies the calculation of profit share in a partnership firm, specifically addressing the 8% figure. It confirms that the 8% profit share is calculated before deducting interest and remuneration. Furthermore, no interest or expenses are permitted against this 8% income; it is taxed flatly after Chapter VI deductions.

8% profit should be made before partner's share of profit and remuneration
No intt or exp allowed against 8 % income . it flat taxable after chapter VI deduction

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