Do the partner in the partnership firm need to consider the exempt income such as profit share, in the gross receipt, for the purpose of limit of Rs 50lacs under section 44ADA?
Or can he consider only remuneration which is taxable under such partners hand as gross receipt?
Thanks but what about computation of gross receipt under section 44ADA?
Thanks, can one choose option B if the remuneration is less than 50lacs but it exceeds Rs 50lacs when share of profit is added (which is exempt under Sec 10(2))?
Yes it can be availed
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