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GST REGISTRATION
GST BILLING
GST ACCOUNTS
INCOME TAX
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As per section 40(b) of I-T Act, 1961, the remuneration payable to the partners based on the formula prescribed under sub-clause (v) will be allowed as a deduction while computing the taxable income under the head “Income from Business and Profession“. Your business income is Rs 1 crore and based on the formula prescribed us. 40(b)(v), the maximum remuneration of Rs Rs60.9 lakh will be allowed as deduction while computing the income under the head “Income from Business & Profession“.
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GST REGISTRATION
GST BILLING
GST ACCOUNTS
INCOME TAX
TDS

CONTACT US.
9748199234
7604024377
SAVE TAX & STAY HAPPY.
Add a comment...

GST REGISTRATION
GST BILLING
GST ACCOUNTS
INCOME TAX
TDS

CONTACT US.
9748199234
7604024377
SAVE TAX & STAY HAPPY.
Add a comment...

Post has shared content
GST REGISTRATION
GST BILLING
GST ACCOUNTS
INCOME TAX
TDS

CONTACT US.
9748199234
7604024377
SAVE TAX & STAY HAPPY.
Add a comment...

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