Book Profit(Net Profit) used for Partner Salary calculation for allowed deduction from Income for LLP
a} Book Profit = Income - Expenses* - Depreciation
b} Book Profit = income - Expenses*
(* Allowed Expenses without any sal to Partner)
a or b?
Menu
Llp book profit for partner salary calculation
Replies (1)
A) Bcz Depericiation & Expense is debited to p&l a/c and salary is debited to p&l appropriation as anythng given to partners is charge against profit appropriation
Recent Topics :
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
- ROC FILINGS FY2025-26
- Mismatch in 26AS
- How Can a Trader Utilise Approximately ₹1.20
- How Can Law Students Present Papers at Conferences
Related Topics :
CAclubindia
