My firm"s net profit is of Rs. 21000.........n I claim 21000 as partner remuneration.......i m following 44AD........should i show 21000 as net profit if ITR-5 or Nil...........If i show 21000 there wil b tax.......then should there is any column where i should show partner remuneration..........plz help me.........i m filing online return in which column n sheet i will show partner remuneration
Menu
Regarding parner remuneration details in itr-5
Replies (2)
You should shown your return as " NIL"
NET PROFIT OF A FIRM IS 20000.. NO REMUNERATION TO PARTNERS HAS BEEN CHARGED STILL...
CLIENT IS GOING FOR SEC 44AD..
1. IS IT NECESSARY TO GIVE REMUNERATION TO PARTNERS?
2. IF REMUNERATION IS GIVEN, RULE IS.. I
N CASE OF LOSS OR ON FIRST 300000 OF PROFIT- @ 90 % OF BOOK PROFIT OR 150000 WHICHEVER IS MORE...
SOOOO.... IF I PROVIDE REMUNERATION AS 150000, I WILL GET A LOSS OF 130000...
WHWT SHOULD I DO...????
Recent Threads
- How do I purchase Copper Clues games in Kolkata?
- Regarding Annual Return for 23-24
- Property registration without physical PAN card
- Paying Rent in Cash: This Could Trigger an Income
- Market Down, Portfolio Down: Need suggestions for
- How much tax is payable If I withdraw my mutual fu
- GST Penalty Provisions under Section 73 vs Section
- How VFA Academy Helps Traders Build Discipline and
- GSTR-3B Relationship
- Section 194T: TDS on Payments to Partners: Applica
Related Threads
CAclubindia
