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
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
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