Tax
Querist : Anonymous
Net profit after deducting salary and interest to partners comes to Rs. 20000/- and income tax thereon comes to Rs. 6180/-.
Suppose there is two 50-50 ratio partners, then I should debit Rs. 3090/- from each partners capital a/c
or
I should deduct it from Rs. 20000/- and remaining Rs. 13820/- to be credited equally into their capital a/c ie. Rs. 6910/- in one's and rest 6910/- in other one's.
Please clarify.
Querist : Anonymous
Click here to login now
- EPF ECR NEW FILE SEP 17TH 2026
- Gst registered proprietorship firm
- Non filing of I T Returns
- TAX AUDIT ON PROFESSIONAL INCOME
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- TDS on purchase of under construction property from a reseller
- SALARY CAN BE CAPITALIZE
- Capitalgain tax purposes for valuation report compulsory
- GST Intimation due to Government took possession of Business Premises under PPE Act
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Oct 2025 Invoices
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
