Book profit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 October 2012
please give the formula of Book profit for partnership and Pvt. Ltd. co's for calculation of partner's remunaration and directors remunaration.
Thanking you
Thanking you
08 October 2012
Explanation 3 to Section 40(b)(v) provides the manner to compute the boom profit for calculating remuneration to partner's.
Book profit means profit as computed under the head Income from Business or Profession as increased by the amount of remuneration debited to P&L account.
Book profit means profit as computed under the head Income from Business or Profession as increased by the amount of remuneration debited to P&L account.
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