article assistant
69 Points
Joined January 2014
As per schedule III of the act, the company needs to deduct 8.5% of the paid-up share capital from the gross profit calculation.
But, what if company having 4 different units and different location and having its own profit and loss account. And there is only one balance sheet (Consolidated) which consists paid up share capital.
How should I allocate paid up share capital in those units (i.e on turnover basis or o the basis of employee expenses)