Interest and remuneration paid to partner maximum allowable
This query is : Resolved
10 March 2014
in case partnership firm we have file the return u/s 44AD for the A.y. 2013-14 turnover is 5079366 and profit is 416556. whether interest and remuneration paid to partner is allowed or not u/s 40(b)of income tax act 1961?
10 March 2014
in such case u have been deemed that u have got the deduction u/s 40(b)..so no seperate deduction allowd
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- PAN Migration to New AO
- Tax implications of gift to maternal uncle
- How to open attachment in 23ac xbrl
- Real estate business by a partnership firm where both of the partners are SC/ST
- 26QB correction - no data available error for fully consumed/processed with default
- Gifts in cash
- Capital gains LTCG
- Input Tax Credit Puf panels
- Demand due to error in 3cd
- TDS on Purchase of Immovable Property in case of Co Owner
- Indemnity Bond Format for Excess TDS on rent refund
- AS-16 Treatment of Borrowing cost for land and building
- Why TDS receivable entry made at the date of bank Received.
- HSN WISE SUMMRY REPORTING IN GSTR-1
- Tds rate on loan given to a firm from personal file
- Excess TDS Paid_Form 26QC
- TDS ON PAYMENT TO NON-RESIDENT BY RESIDENT FOREIGN ENTITY
- HOW TO CALCULATE FOOD CHARGES
- Travel Agent Charges 5 GST without ITC. Can he raise invoice18 on Service Fee for Flight Tick
- Income tax planning
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through Chat GPT
CA Deepak Gupta26 April 2025
CAclubindia
