Section 80iba,tax free profits
Sunil Bafna (29 Points)
23 July 2022Sunil Bafna (29 Points)
23 July 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 24 July 2022
Remuneration & interest paid to partners is not tax free. Only the net profits earned by the firm, when distributed to capital accounts of partners is tax free.
Sunil Bafna
(29 Points)
Replied 28 July 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 28 July 2022
Depends upon the LLP deed of incorporation. Unless specified in it, its not mandatory.