Np ratio calulation in clause 32 of 3cd report
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2011
In case of PARTNERSHIP FIRM, how to calculate the NP Ratio in Clase 32 of 3CD Report????
Whether NP to be consider without deducting the Interest on partners Capital A/c & Remuneration to partners?
or after deducting it?
Please reply with suitable guidance note/rule.
Very thanks in advance
Whether NP to be consider without deducting the Interest on partners Capital A/c & Remuneration to partners?
or after deducting it?
Please reply with suitable guidance note/rule.
Very thanks in advance
CA Ashwani Agarwal
(Expert)
08 September 2011
It has to be calculated after deducting the remuneration and interest to partners. No guidance note is needed for the same.
As both are allowabe expenditure so there is no need to get confused.
As both are allowabe expenditure so there is no need to get confused.
Mihir Doshi
(Expert)
08 September 2011
yes.....no need for any guidance note...agreed with the expert.
08 September 2011
Yes I also agree with the experts the NP ratio is to be calculated on the basis of NET profit and what is net profit is the profit after charging all expenses and provisions against the Profit.
Since partners remuneration and interest is charge against profit it is to be deducted for arriving at the net profit and the same is to be taken cor calculation of NP ratios.
Since partners remuneration and interest is charge against profit it is to be deducted for arriving at the net profit and the same is to be taken cor calculation of NP ratios.
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