Partners remuneration
This query is : Resolved
12 December 2015
2 partners are being paid a fixed remuneration of Rs 90000/- each there is a book profit of Rs 423508/- after adding this amount to the net profit as per profit and loss account. What will be the allowable remuneration as per section 40(b)(v)
12 December 2015
Profit before remuneration - Rs. 4,23,508. Allowable remuneration as per section 40 (b) (v) - Rs. 3,44,105.
If Rs.90,000 each is restricted in partnership deed, then allowable u/s 40 (b)(v) is only Rs. 1,80,000.
If Rs.90,000 each is restricted in partnership deed, then allowable u/s 40 (b)(v) is only Rs. 1,80,000.
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
- Opting our of sec 44AD
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding appeal to GSTAT
- Multiple trade mark
- Value of property in capital gain
- Copyright software
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- LC charges in relation to Asset purchased should be Capitalised ?
- Form 121 & TDS deduction
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
