Salary to partners
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 July 2012
Dear expert,
Salary to partners is computed as-
On the first 3 lacs- 150000/- or 90%
Above 3 lacs - 60%
Suppose net profit of the firm is 300000/- and interest on capital @ 12% comes to 250000/- and remaining profit for distribution of salary is 50000/-
Now I want ask that, above said computation should be done on entire 3 lacs or it should be compute on remaining profit after interest distribution say Rs. 50000/-
Please advise me.
Salary to partners is computed as-
On the first 3 lacs- 150000/- or 90%
Above 3 lacs - 60%
Suppose net profit of the firm is 300000/- and interest on capital @ 12% comes to 250000/- and remaining profit for distribution of salary is 50000/-
Now I want ask that, above said computation should be done on entire 3 lacs or it should be compute on remaining profit after interest distribution say Rs. 50000/-
Please advise me.
29 July 2012
Compute on profit after interest.
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