As per my knowledge there is some change in Rule of Partnership firms for giving Remuneration & Interest to Partners. I heard that now the Remuneration & Interest both are disallowed.
Is it Correct for all the Partnership Firms or Non Auditable Partnership Firms or for Whom ?
I agree there is no change in 40(b) disallowance.The same rules apply.
In case of 44AD assessees, earlier such assessees were allowed deduction in respect of section 40(b) but now not. As I understand, this is the only change with respect to sec 40(b).
FY 2016-2017 how much tax audit u/s.44AB limit is it 2 crore please clarify the matter
from
Bapon Saha
The tax audit limit is 1 crore for FY16-17
But S.44AD limit is upto 2crores.
Regards
CAclubindia
