07 December 2017
Dear Sir., I'm not understand the provisions of Partnership firm in AY 2017-18...
Please see the following Details for one of our Partnership firm (2 Partners) Details... Total Incomes (Sales & Services) - Rs. 36,39,500
Total Expenses : Direct Expenses - Rs. 2053500 Indirect Expenses - Rs. 1126000 Depreciation - Rs. 159750 = Total Expenditure Account - Rs. 33,39,250. Total Profit = 300250..
Remuneration not provided in Above said Expenses. Also keep Books of Accounts in my Firm. Now.,
1. What can I do u/s 44AA for remuneration to partners? 2. How to We file this account without Audit (44AB)...? 3. Is it under Audit or not...? 4. Which amount we pay Tax on Income...?
Thanks in Advance. Please give your Valuable replies...