Question ID :
29567
Sec 44AD
As per section 44AD, determined profit is deemed to be after deduction of depreciation and partners remuneration.
In a given example if the taxable profit as per section 44AD is Rs 8 lacs. Can anybody suggest how to do reverse calculation to arrive at remuneration to partners to be offered to tax in their individual hands.
Posted by
Ethirajan
on
Apr 16, 2018
Filed Under
DIRECT TAXES
Actually you will have to add the interest and remuneration to arrive at the actual profit as the deemed deductions are fictional ones.
Posted by
SIVADAS CHETTOOR on
Apr 16, 2018
Answer ID :
65497
There is no reverse calculation. 44AD without remuneration and interest
Posted by
VINAY BHARGAV KUMAR G on
Apr 18, 2018
Answer ID :
65515
My friend, deduct the salary paid to the partner from the tax liablity i.e( sale consideration- salary paid to the partner)* 8 presumptive profit on which you have to pay tax.
Posted by
CA. SATISH CHAND GARG on
Apr 19, 2018