Very urgent ca final dt-nov 12

Its for the first 3,00,000/- pf the book profit - its 1,50,000/- or 90% of the book profit, whichever is higher

and for the balance profit - 60% of such book profits.

Originally posted by : Nithin Chettoor
	Its for the first 3,00,000/- pf the book profit - its 1,50,000/- or 90% of the book profit, whichever is higher and for the balance profit - 60% of such book profits.

AGRRED.

thanks for the reply,i hv one more doubt if there is business loss then how much is maximum remuneration?is it 1,50,000?and is it same for professional as well?

plz reply soon

ITS FOR LOSS     or   1ST 3,00,000 of book profit----1,50,000 or 90% of book profit whicever is less.

u mean if there is loss of say 156000 and there r 3 partners who r getting remuneration of 20000 each  then remuneration will b  150000 or 60000  whichever is less.ryt?

Yes bt this are maximum amount that u can get as deduction in income tax in case of loss.

it is not necessary u should give this ,much amount topartners as remuneration ok?only upto dis and below dis u can give under income tax actfor availing deduction u/s 40(b).

bt then if i'll gv deduction of 60000 then partners will get 20000 each or not?

yes ur ri8ok?

thanks a lot.

Originally posted by : TusharSampatM.Com CA,CS-FINAL
	ITS FOR LOSS     or   1ST 3,00,000 of book profit----1,50,000 or 90% of book profit whicever is less.

Dear sir,

Its whichever is more i.e, upto a book profit of Rs, 300,000/-, the maximum allowable remuneration for deduction is Rs. 1,50,000 or 90% of the book profit whichever is more.

So in the case of loss, the maximum allowed is Rs. 1,50,000/-

Thanks.

ITS FOR LOSS     or   1ST 3,00,000 of book profit----1,50,000 or 90% of book profit whicever is less.
 

 

In case of Loss also Rs 150000 is allowable

and for profession no separate  slab is given means same slab is applicable

First 300000 of Book profit-150000 or 90 % of book profit whichever is more.

In case of loss     -150000