Easy Office
LCI Learning

For claim expenses under 44ad

This query is : Resolved 
Profile Image

Profile Image

(Querist)
19 March 2016 Affter declare 8% profit of gross receipt, can we claim any expenses other than partner remunaration.
Profile Image

Ankur Singhal

Profile Image

Ankur Singhal (Expert)
19 March 2016 Dear
Only in case of a partnership firm salary and interest paid to partners can be deducted subject to limit specified by section 40 of income tax act.
Profile Image

MANISH SHARMA

Profile Image

MANISH SHARMA (Querist)
19 March 2016 That Means, A Entity other than a partnership firm not claim any expense affter declare profit (8%) of gross receipt
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Ankur Singhal

Profile Image

Ankur Singhal (Expert)
19 March 2016 Yes You are right.
This benefit is available only to the partnership firm.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links