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Partnership business


gunjan agarwal (CA Job)     24 February 2021

gunjan agarwal
CA Job 
 34 points

| My Other Post
is there any way out to reduce tax liablity of partnership business??
since the tax rate is flat 30℅, it's very high for small businesses
Josh

Josh (Manager)     24 February 2021

Josh
Manager 
 1 likes  69 points

View Profile | My Other Post

What is the nature of business? Is it eligible for presumptive taxation scheme? 

gunjan agarwal

gunjan agarwal (CA Job)     24 February 2021

gunjan agarwal
CA Job 
 34 points

View Profile | My Other Post
Yes if it's a newly set up contract and construction business
Josh

Josh (Manager)     24 February 2021

Josh
Manager 
 1 likes  69 points

View Profile | My Other Post

Compare the effective tax rate under presumptive taxation scheme. But bear in mind that the scheme will have to be followed for 5 years.

gunjan agarwal

gunjan agarwal (CA Job)     24 February 2021

gunjan agarwal
CA Job 
 34 points

View Profile | My Other Post
Opting for 44ad may attract more tax so what's the other option

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