Question ID :
39288
Determination of Book Profit if a partnership firm has opted for 44AD
If a partnership firm has opted for 44AD, the turnover is Rs 50,00,000 and the profit declared thereon is Rs 3L (being 6% of Rs 50L) and the partners of the firm are getting the remuneration of Rs 10L each (there are 2 partners).
How Book Profit will be calculated so that maximum amount of partners Remuneration allowed as per law is determined.
posted by
CA Neha Gupta
on
Jul 12 2019 12:00AM