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Taxation of partnership

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Can anyone please help me with which profit should be shown in audit report of a partnership firm.
a. Profit after interest and remuneration.
OR
b. Profit before interest and remuneration.
Replies (3)
Profit after interest and remuneration
Since the company audit is not applicable to partnerships.So you can consider the book profit as per tax computation..

You may give reference of book profit & eligible remuneration as per income tax
You can enter profit after interest and remuneration


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