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Income tax on partnership firm

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 November 2015 for 8% of Gross sale whether partners remuneration & interest on capital included or not?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 November 2015 It is not included can be claimed from the 8% profit.
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Prakash Kochar

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Prakash Kochar (Expert)
19 November 2015 Calculate profit @8% u/s. 44AD, out of this Int. and Remuneration to partners is allowable, balance will be treated as income of firm for tax.
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