44ad partners remuneration
jnj fincon (Prop) (88 Points)
26 April 2017
Whether Remuneration recd by partner from partnership firm, eligible u/s 44AD
2 Replies
lalitha
(article trainee)
(22 Points)
Replied 26 April 2017
Prior to AY 2017-18 ( FY 2016-17) partner's remuneration is allowed as deduction under the income tax act though assessment is made under 44ad.
From AY 2017-18 (FY 2016-17) no such payment is allowed as deduction after the profit is determined on presumptive basis
jnj fincon
(Prop)
(88 Points)
Replied 29 June 2017
can partner file his return using remuneration recd from partnership firm on presumptive income basis
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