Partner salary
This query is : Open
26 May 2017
IF MY FIRM PROFIT AFTER INTEREST PAID OF PARTNER IS 250389 SIR WHAT IS THE PARTNER SALARY AND PROFIT
26 May 2017
Remuneration - Rs. 2,25,350. Profit - 25,039
Ps. calculated u/s 40(b) of IT Act,1961.
Ps. calculated u/s 40(b) of IT Act,1961.
26 May 2017
Maximum allowable remuneration is 90% of Profit Before such Remuneration i.e. 225350/- & balance is profit of firm taxable@30%
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