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Tax saving partnership firm
Any option for tax saving for partnership firm
Replies (3)
Quick Summary
1. Remunerations or interest paid to the partners of the firm which are in accordance with the terms of the partnership.
2. Salaries, bonuses, remunerations, commissions paid to the non-working partners of the firm.
3. Applicability of sec. 44AD & sec ADA for presumptive assessment under the act.
4. Deductions under sections.. 80G, 80GGA, 80GGC, 80IA, 80IAB, 80IAC, 80IB, 80IBA, 80IC, 80IE, 80JJA, 80JJAA, 80LA of the act...
What is tax Payable by it? Can it give Salary to its 2 Partners of 200000 each to reduce its profit? Income of Partners. What is the tax payable in this case by partnership firm?
...
TAX COMPUTATION OF PARTNERSHIP FIRM.
Particulars Amount
Surcharge 0
Tax + Surcharge 180000
Cess @ 4% 7200
Total Tax including Cess 187200
...
TAX COMPUTATION OF PARTNERSHIP FIRM.
Particulars Amount
Surcharge 0
Tax + Surcharge 180000
Cess @ 4% 7200
Total Tax including Cess 187200
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