Partnership firm is converted into company with a carried forward loss of Rs. 10 lacs. During the previous year 2010-11 the company has earned a profit of Rs. 4 lacs after debited directors reumnetation of Rs. 18 lacs. Whether sec. 115 JB is applicable to our company.
Please urgent.
thank you
115 JB is applicable to each and every company irrespective of their profitiability....
and the tax is paid on that which ever is highest....
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
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Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
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Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
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CCI
Pro
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