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Calculation of gross receipts u/s 44ada
Dear all,
Please tell me about the Gross Receipts calculation under section 44ADA.
One of my client receiving remuneration from partnership firm less than 50 Lacs. He also receiving profit share from the firm. I want to know that the profit from the firm should be added in the calculation of Gross Receipts of the Partner.
Replies (1)
Isn't profits from firm tax-paid? What is the difference between capital and income?
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