Please sent the processure to how to arrive partners remuneration according to below example
1. Net Profit is 100/-
2. Interest on capital is. 12/-
3. Income Tax Paid is 8/-
4. Depreciation is 5/-
Please calculate the partners remuneration
Venkatesh
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Partners remuneration arriving
Replies (2)
assuming that interest paid on capital is within limits then remmuneration allowable to partner will be [(100-12-5) x 90%].
(100+8)*90%
assuming that whole interest is allowed.
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