Deductibility of partner salary and interest from presumptive income under 44AE permitted, subject to section 40(b) limits. Amendment permits deductibility of partner salary and interest from income computed under section 44AE, subject to the conditions and limits in clause (b) ... Summary
Deductibility of partner salary and interest from presumptive income under 44AE permitted, subject to section 40(b) limits.
Amendment permits deductibility of partner salary and interest from income computed under section 44AE, subject to the conditions and limits in clause (b) of section 40 and deemed effective from the first day of April, 1994; subsection (6) of section 44AE is omitted.
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