Mayur Gandhi (1 Points)
04 July 2018
CA Ankit R Momaya
(Partner at Bhat Momaya & Associates)
(2319 Points)
Replied 04 July 2018
Profit after Interest and Remuneration u/s 40(b) should be 50% u/s 44ADA.
Brahma nanda Agrawal
(KOLKATA)
(331 Points)
Replied 04 July 2018
KOUSHAL JAIN
(Chartered Accountant)
(471 Points)
Replied 04 July 2018
Net 50% of Turnover Taxable as Profession Income.
All Expenses including interest and remuneration/salary to partner is not allowed from 50% of turnover profession income.
CAclubindia
