can a partner in partnership firm can take remunaration by law ???
and if yes
then is it applicable to show it in IT filing in section 44ad
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remunaration to partner in firm
Replies (4)
In partner's case ITR-3 is selected. So not possible to file under 44Ad
but i have to show the firm's profit in 44ad
then que is that can i show remunaration to partners
while showing profit of firm in 44ad
then que is that can i show remunaration to partners
while showing profit of firm in 44ad
Remuneration to partners is not taxable in the hand of Partners.
so question to show u/s 44ad doesn't arise.
apart this you can show other business u/s 44ad.
so question to show u/s 44ad doesn't arise.
apart this you can show other business u/s 44ad.
Partnership Firm ll file u/s 44ad then no way for claim Remuneration and interest to partners. The profit share fully exempted In the hands of Partners...
In case the will file ITR u/s 44AA and 44AB then Remuneration and Interest will be claim and It's taxable in the hands of partners...
In case the will file ITR u/s 44AA and 44AB then Remuneration and Interest will be claim and It's taxable in the hands of partners...
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