Stupid's question

Tax queries 248 views 3 replies

gopal

future smart stupid

293 Points Joined October 2016

U/S 44AD

A partnership firm went for 44AD. then suddenly one of partner came to know that remuneration to partners is not allowed to be claimed. then he thought for some while and came to conclusion that....

Firm will pay tax on T/O that means their remuneration also taxed @ 8 % ( or 6 % as the case may be )

Then again they will pay tax to income tax for remuneration received because it is not share of profit but a remuneration.

then he suddenly jumped from his luxurious chair and yelled "Double taxation?"

is he right ???

Replies (3)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

209516 Points Joined July 2016

It is wise man's decision! Because department cannot levy tax on already taxed !!!

Hint: Under presumptive taxation its just 6/8%, while individually minimum 10%!!!!!!

Think. Its for exercise of mind, not for counter questioning !!!!!!!!!!

gopal

future smart stupid

293 Points Joined October 2016

Originally posted by : Dhirajlal Rambhia
	It is wise man's decision! Because department cannot levy tax on already taxed !!! Hint: Under presumptive taxation its just 6/8%, while individually minimum 10%!!!!!! Think. Its for exercise of mind, not for counter questioning !!!!!!!!!