income tax
m.prasad (B.Com) (128 Points)
20 May 2019
in partnership firm turnover Rs.4000000/- part net remuneration is allowed u d 44AD
4 Replies
Reshma Thakur
(Professional)
(290 Points)
Replied 20 May 2019
No remuneration to partners deductible, when firm assessed u/s. 44AD
saurabh sawlani
(2191 Points)
Replied 21 May 2019
Finance Act 2016 has deleted the proviso appearing in Section 44AD (2), consequent to which, deduction of the partner's interest and salary is not further allowed for a partnership firm opting for presumptive scheme under Section 44AD of the Act.
P. V. Kutty
(Accounts)
(308 Points)
Replied 21 May 2019
| on RS.4000000/- @ 8%= 320000/- tax @ 31.2% ... Rs. 99840/- | ||
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