Calculation of partners remuneration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 August 2012
Dear Sir
Please tell me how i calculate partners remunerations what is the percentage of these calculation.
Please tell me how i calculate partners remunerations what is the percentage of these calculation.
CA Saiyum khan
(Expert)
16 August 2012
As per the provision of income tax partners remuneration can be computed as follows;
1. For the first 3,00,000 of profit Rs.1,50,000 or 90% of profit whichever is higher.
2. For the balance of Profit @ 60%
1. For the first 3,00,000 of profit Rs.1,50,000 or 90% of profit whichever is higher.
2. For the balance of Profit @ 60%
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