Computation of incomce tax of firm a.y 2013-14

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2012 Our Firm's net Profit is 1275186.06
Salary Paid to Partners is 840000.00

how can i compute income tax on it for the A.y. 2012-13? Net Profit is after Partners salary.. pls help

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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24 June 2012 Why Firm's income for the AY 2013-14, before the completion of the Previous Year is required to be computed ?
.
In case the above data pertain for the year ended on March 31 2012, you have to be very specific as regards certain more issues like-
1. The terms set out in the Deed of Partnership for remuneration.
.
2. Whether the Net Profit of the firm is before providing the remuneration to partners ?
.

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