Parner's remuneration
This query is : Resolved
03 September 2014
partnership firm have other income rent of property credited to profit & loss account,book profit included rent of income so calculation of partner remuneration consider as above book profit or book profit deducted rent of property
03 September 2014
pls refer to explanation 3 to sec 40 b
book profit is to be computed in the manner laid down in chapter IV -D,
in your case , income from rent is to be taxed under income from house property, hence while computing the book profit to calculate partners remuneration, rent has to deducted
book profit is to be computed in the manner laid down in chapter IV -D,
in your case , income from rent is to be taxed under income from house property, hence while computing the book profit to calculate partners remuneration, rent has to deducted
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- Can partnership firm show income under 44ad
- Banking Related Issue
- Rental income of jointly held property
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
