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section 44 AB


Banbari Lal (Taxation)     14 July 2018

Banbari Lal
Taxation 
 3 likes  61 points

| My Other Post

Section 44 AB minimum profit of 8% calculated after deducted partner remuneration or salary or before its

Shyam Gupta (Student)     14 July 2018

Shyam Gupta
Student 
 2 likes  79 points

View Profile | My Other Post

after remuneration and intrest

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Banbari Lal (Taxation)     14 July 2018

Banbari Lal
Taxation 
 3 likes  61 points

View Profile | My Other Post

Remuneration as per income tax act ya as per partnership agreement

avater

CA Swati Agarwal (Employed)     14 July 2018

CA Swati Agarwal
Employed 
 6 likes  73 points

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UNDER SEC 44AD OF IT ACT, FIRM is eligible to calculate their profit as 8% of thre gross receipt /turnover.

No Dedn will be allowed u/s 30 to 38 of IT act.However,int or remuneration(salary) paid to partners of partnership firm will be allowed as deduction from income.

So, in my opinion ,Profit will be calculated after deduction.

Regards

CA Swati Agarwal

 

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