Can 44AD be applied for speculation business?
I will be very thankful if anyone can reply to my previous query
whethere min. remuneration of 1.50lacs is still payable in case of neg./ insufficent book profit?
please also tell if LIC pre is claimed in husband for pre. of wife (as paid by husband) then whether in next yr the same can be taken in Wife's file
Hi Frnd,
1.For Speculative and Non speculative busineses 44AD is applied.And the eligible Business shouid not exceed 60 lacs.
2.For partner Remuneration If it have negative profit the max amount is 150000.
If it is positive profit take 90% on 1st 3 iacs book profit or 150000 which ever is higher.
and in remaining balance 60% book profit.
Thank you
BOBBY
AJAY SINGH AND CO LLP
Thane
CA Final
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Abic and Mani Chartered Accountants
Kottayam
B.Com
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