banner_ad

Calculation under section 349

This query is : Open 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
18 January 2011 Dear All

Please note that while making the calculation under section 349 the most of teh deductions to be made from the net profits like interest on mortgages excuted on the company, etc are already been deducted from the gross profits while arising at the said net profit of the company. SO what is the logic behind deducting them again. Kindly help.
Profile Image

Jayashree S Iyer

Profile Image

Jayashree S Iyer (Expert)
19 January 2011 You are right. Net profit, generally is arrived at after deducting all the expenses as enumerated in Section 349(4). However some companies may give different treatment e.g. depreciation rate may be different from the rate specified in Sec.350, and hence to avoid any confusion, the list of items which shall and which shall not be deducted from net profits is provided in SEction 349.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details