book profit
This query is : Resolved
14 June 2010
why book profit?
how to calculate it?
formula?
how to calculate it?
formula?
14 June 2010
Book-profit means the net profit, as shown in the profit and loss account for the relevant previous year, computed in the manner laid down in Chapter IV-D as increased by the aggregate amount of the remuneration paid or payable to all the partners of the firm if such amount has been deducted while computing the net profit.
The above is given as explanation 3 to section 40 (b) of the Income tax Act,1961.
The above is given as explanation 3 to section 40 (b) of the Income tax Act,1961.
15 June 2010
thaks sir
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