CAN ANYONE PLEASE ASSIST ME REGARDING THE TAXABILITY IN THE HANDS OF PARTNERS ON REMUNERATION FROM FIRM BEING TAXED UNDER 44AD AS NO FURTHER DEDUCTION WILL BE ALLOWED FOR THE SAME FROM 8% FROM THIS YEAR ONWARDS.
THANK YOU.
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Taxability of remuneration to partners under 44ad
Replies (2)
If you opt sec 44AD then no way for claim Remuneration and Interest...
You ll be pay Tax 8% or above....
After the tax You can transfer the profit amount to capital account and You can withdraw the amount...
You ll be pay Tax 8% or above....
After the tax You can transfer the profit amount to capital account and You can withdraw the amount...
agree with Mr raja
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