Partners eligible remuneration

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

21 April 2016 My Client Partnership firm Profit is NIL due to Remuneration & Interest paid to partners. I am giving you data of that Partnership Firm. Kindly help me out.

Remuneration Paid (72000X2) 144000
Interest Paid (65889X2) 131778
Total 275778
Gross Receipts of Business is 708302/-

Thanks in Advance

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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21 April 2016 Eligible remuneration is 1,44,000

Querist : Anonymous

Querist : Anonymous (Querist)

21 April 2016 But I can't file due to NIL Profit. What to do ??

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CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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21 April 2016 make your question clear please.

You can give up to 150000.00 remuneration even when your firm made a loss.

Further What problem occurs in ur itr ?