Dear All
Can someone please email me in excel prefrably as to how to compute remuneration to partners as per IT act
Regards
Rajesh Poddar (Chartered Accountant) (321 Points)
16 January 2009Dear All
Can someone please email me in excel prefrably as to how to compute remuneration to partners as per IT act
Regards
CA. Rajeev Aggarwal
(Chartered Accountant)
(3419 Points)
Replied 16 January 2009
sorry, i don't know how it posted here
Nikhil Kumar
(CA , Qualified CPA)
(910 Points)
Replied 16 January 2009
Its quite simple- you can make a spreadsheet of your own-
the rule is as follows:
a) On the first Rs. 75,000 of _ Rs. 50000 or @ 90% of book profit, whichever
the book profits is more
b) On the next Rs. 75,000 _ @ 60%
c) On the balance of _ @ 40%
book profit
CAclubindia
