Computation
This query is : Open
10 April 2013
Dear sir/madam,
While calucting Firm Interest under wealth tax, In partnership firm balancesheet shows Rs. 8,00,000/-as cash in hand.
This cash balance should taken into consider for calcuting individual partners interest in firm under wealth tax.
While calucting Firm Interest under wealth tax, In partnership firm balancesheet shows Rs. 8,00,000/-as cash in hand.
This cash balance should taken into consider for calcuting individual partners interest in firm under wealth tax.
12 April 2013
No Recorded cash is not to be taken while calculation of Net Wealth of the Firm and as such it is not included in wealth of individual also..
Regards,
Neha Chauhan
Regards,
Neha Chauhan
12 April 2013
Can u explain me .. why it is not consider in netwealth of Firm.
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