Tds query

Limits for partner salary for Assessment year 2010-11 onwards is given below


 

• Common rate for both type of Firm whether covered under 44AA or not

• • On the First three lakh of the Profit or In case of Loss: 150000 or 90 % of profit which ever is more.
  • On balance profit:60% of the profit

Only this much will be allowed as deduction from the firms income in firms return , and this amount then taxable under partner's individual capacity.

By the wt kind of recruitment services you provide ??
Asking because I am an Holder of H1b visa and I am looking for some good oppertunities , Hope you can help a bit .

Above rates for Remuneration by Mr Deepak is correct.

Apart form the remuneration the partners can also share Interest of not more than 12% as per IT act on the Capital, the profit from the Firm is Taxable @ 30% and 3% of Secondary & Higher Education Cess.