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

Section 44AD: Separate Deductions Allowed for Interest on Capital and Partner Remuneration After Estimating Net Profit.

May 26, 2016

Case Laws Income Tax AT

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

← Previous Next →

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

Section 44AD: Separate Deductions Allowed for Interest on Capital and Partner Remuneration After Estimating Net Profit.

May 26, 2016

Case Laws Income Tax AT

You may also like:

Deduction u/section 80(IA)(10) r.w.s 10AA(9) - AO made the additions on the ground that, by giving deductions of interest on capital and remuneration to partner of the...

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...

Deduction u/s 80IB - AO observed that, partner did not claim remuneration and interest on capital from the firm in order to claim the higher deduction under section...

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...

Loss from other source [wrongly shown as interest] and set off u/s.71 - assessee had opted for the deeming provision contemplated u/s.44AD of the Act but had separately...

Interest on capital paid to the partner - payment of interest by the two partnership firms towards use of partners’ capital - Expenditure incurred on account of...

Remuneration to partners - Deduction u/s 40(b) - whole income embedded in P & L account of assessee is to be taken into consideration for allowing deduction of...

Disallowance of remuneration paid to working partners - instead of specified remuneration in the partnership deed, it is linked to provisions of section 40(b)(v) income...

Income on account of interest treated as income from other sources – Disallowance of remuneration to partners from interest income - deduction allowed considering as...

Disallowance of remuneration paid by the assessee to its Working Partner u/s 40A(3) - Cash payment of expenditure in excess of specified limit - Scope of separate...

Deduction of interest and salary paid to partners u/s 40b (IV) and 40 b(V) - order u/s 144 - The provisions of section 184(5) of the Act is very clear and according to...

CBDT has amended the Income-tax Rules, 1962 through the Income-tax (Seventh Amendment) Rules, 2025, effective upon publication in the Official Gazette. The amendment...

Deduction 10AA(9) - Interest and remuneration to partners - Claim allowable on net income or gross income - In the present case, the clauses of partnership deed...

AO directed not to reduce interest payable to the partners on their capital contribution and remuneration from the eligible profits for grant of deduction u/s 80IB...

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...

Quick Updates: