Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

Estimated profit u/s 44AD - remuneration to partners - the ...

Income Tax

May 26, 2016

Estimated profit u/s 44AD - remuneration to partners - the statute itself in section 44AD of the Act, allowed separate deductions towards interest on capital accounts and remuneration to partner’s, after estimation of net profit from the gross receipts. - AT

View Source

 


 

You may also like:

  1. Remuneration to partners – Interest income though taxable under the head income from other sources, to be included in book profit for computation of remuneration…Tri.

  2. Remuneration to partners – Interest income though taxable under income from other sources, to be included in book profit for computation of remuneration..AT

  3. Partner’s remuneration u/s 40(b) - The manner of computing the remuneration is not specified - the remuneration payable is left to future mutual agreement between the...

  4. Best judgment assessment - Order of ITAT modified for determining the profit rate @ 8% instead of 12.5% on gross contract receipt subject to allowing depreciation,...

  5. Claim for estimating income / deemed income u/s 44AD on remuneration and interest received from firms - the intention was to help small business to comply with the...

  6. Estimation of Net Profit before remuneration to Partners - The discretion exercised about how much remuneration shall be paid to the partners is upon the discretion of...

  7. Determination of remuneration paid to partner - working / retiring partner - the firm has incorporated the terms of section 40(b), providing for the maximum amount of...

  8. Rejection of book result u/s 145(3) - estimation of income - Deduction of depreciation from the estimated income - Depreciation should be allowable being statutory...

  9. Characterization of interest income from the partnership firm as business income - Presumptive income @8% u/s 44AD - Interest and salary received by the assessee from...

  10. Revision u/s 263 - Failure to get books of account audited u/s 44AB - Incorrect claim of benefit of section 44AD - The assessee has not only failed to get its accounts...

 

Quick Updates:Latest Updates