Partner's share of in loss of pratership firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 April 2011
Whether Partner's Share of Loss(partner being a company)in a partnership firm then while calculating the book profit of the company Partner's Share of Loss would be added back or will not considered in MAT.
Also tell that Partner's share of profit whether it would be deducted while calculating Book Profit of the Company.
Pl revert back.
Rgds,
Anshul Singhvi
Also tell that Partner's share of profit whether it would be deducted while calculating Book Profit of the Company.
Pl revert back.
Rgds,
Anshul Singhvi
CA MANOJ GUPTA
(Expert)
26 April 2011
Book profit is nothing but net profit ar per p/l account as adjusted by the adjustments provided for in section 115JB so if the loss/profit fm pship is debited/credited to the p/l accoount than same would automatically be adjusted in net profit as per p/l no furher adjustment is reqd under section 115JB
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
