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 ...

Case Laws     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. 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...

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

  3. 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...

  4. Profit estimation on unaccounted turnover: AO estimated 8% profit based on seized material, which was reduced to 5% by CIT(A). ITAT held that in case of profit...

  5. 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...

  6. 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...

  7. 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...

  8. Rectification of the mistake committed in the return of income - Deduction of remuneration partner from the presumptive income - It is not the claim of the Department...

  9. Disallowance on account of remuneration paid to partners of the firm - The partnership deed has specified that the amount of remuneration allowable u/s 40(b)(v) would be...

  10. 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.

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

  12. Estimation of sales and net profit - filing return u/s 44AD - AO estimated the actual sales of ₹ 86 lacs instead of ₹ 19 lacs - when no books of accounts are...

  13. Remuneration to partners - where the partner is working partners and remuneration provided is within the limits prescribed u/s 40(b)(v), AO cannot disallow any part of...

  14. Payment of remuneration and interest by the assessee firm to its partners - once the income was estimated at 15 of the gross commission amount by invoking the provisions...

  15. Computation of salary of partners u/s 40(b)(v) – Even if the income from other sources is included in the profit and loss accounts to ascertain the net profit qua...

 

Quick Updates:Latest Updates