set off previous year loss
This query is : Resolved
03 December 2008
a firm has net profit , and it has carried forward depreciation loss..
my query is should the interest on capital and remuneration to partners be deducted from profit before setting off carried forward losses??
my query is should the interest on capital and remuneration to partners be deducted from profit before setting off carried forward losses??
03 December 2008
From current year's profit deduct interest on capital,deduct brought forward depreciation and then calculate remuneration on the balance amount.
04 December 2008
thank you so much!!!
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