Partners remuneration allowability
This query is : Resolved
24 June 2015
net profit is 106500/. partners salary debited 96000. while calculating tax liablity what amount should be deductible as per section 40b.? plse help me
24 June 2015
up to rs. 3 lacs book profit = Rs. 150000/- or 90% of book profit which ever is higher
after that 60% of remaining book profit.
after that 60% of remaining book profit.
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