Question ID :
31727
Taxation of Partnership firm u/s 44 ADA
U/S 44ADA. deductions from gross total income u/s 30 to 38 are deemed to be given while applying 50% profit.
I understand from perusal of various articles that the partners' remuneration and interest is not to be deducted from gross TO before applying 50% profit.
Again the remuneration is taxable in the hands of the individual partners.
How?
Or is it that the partner's remuneration & interest is deductible before arriving at 50% profit?
posted by
Pradnya M Oak
on
Jul 4 2018 12:00AM