KIYOSH (TAX CONSULTANT) 18 June 2011
REGARDING PARTNERSHIP FIRM
NET PROFIT OF PARTNERSHIP FIRM IS 10 LAC. FIRM IS ALSO HAVING FIXED DEPOSIT WITH BANK & INT RECD ON IT IS 1 LAC. TOTAL INCOME OF THE FIRM IS 11 LAC.
NOW MY QUESTION IS SHALL I COMPUTE REMUNERATION TO PARTNER ON 10LAC OR 11 LAC.
THANKS IN ADVANCE
KIYOSH
CA Anshu Agarwal (B€ @LW@¥$ ]-[@Pp¥) 20 June 2011
remuneration allowable is based on book profit
so you can consider 11 lakh
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