Partnership firm u/s 44ad

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PIYUSH PATEL (Querist)
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13 March 2016 Hii all I want to know about when we calculate profit u/s 44ad for partnership firm at that time for findingout remuneration intrest on partner's capital should be deduct first from profit or as it is directly calculate on 8% profit?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 March 2016 It can be deducted from 8% profit.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 March 2016 1. Find out 8%.

2. Deduct interest on capital @12%.

3. Arrive the balance .

4. Calculate remuneration on the balance so arrived above.

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PIYUSH PATEL

PIYUSH PATEL (Querist)
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13 March 2016 thanks for answer