13 February 2018
A partnership firm is there wherein ITR-6 has to be filed u/s 44-AD for the ay 2017-18. Nett Profit has arrived as at Rs 7,887/= exactly equal to 8% of gross total receipt. Whether Remuneration 90% Rem of Rs 7,098 will be allowable under allowable expenses u/s 44-AD. If the said Rem is allowable, nett profit after providing 90% rem will arrive as at Rs 789 less than 8%. Please guide me what to do in such case. I shall be highly obliged.
13 February 2018
On or before AY 2016-17 it's accepted after profit of 8% and Less the calculatd value then will pay Tax...
But, From AY 17-18 it's not available except opt to Tax Audit u/s 44AB...
In AY 17-18 if You will file partnership account with u/s 44ad or 44AA You must will show the Profit 8 percentage of Above... After You can Transfer Full amount as per Percentage of Share...
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