08 January 2018
Partnership firm having Turnover 20L, maintaining books of accounts u.s 44AA, profit before remuneration 2L(10%), not opting for 44AD, paid remuneration 1.5L. Taxable income 0.5L. is this correct?
08 January 2018
Yes but in this case partnership firm will have to go for tax audit.
Expert :
Anonymous
Expert :
Anonymous
(Expert)
08 January 2018
Which AY this details...?
If it's AY 16-17 then you go to the same way... and You can pay tax on the 50k...
If it's AY 17-18 then you CAN go to way as per sec 44AA. But, You ll be pay Tax on 2lakhs...
08 January 2018
Which AY this details...?
If it's AY 16-17 then you go to the same way... and You can pay tax on the 50k...
If it's AY 17-18 then you CAN go to way as per sec 44AA. But, You ll be pay Tax on 2lakhs...
By
RAJA P M.
CAclubindia
