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decucions under the head PGBP

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Querist : Anonymous (Querist)
21 February 2010 what is the new limits for calculating the book profit of partnership firm
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CMA. Dinesh S Adhikari, ACMA

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CMA. Dinesh S Adhikari, ACMA (Expert)
22 February 2010 New limit are as follows u/s 40(b):

On First Rs. 3,00,000 - Rs. 1,50,000 or 90%, whichever is higher.

On balance book profit - 60% of Balanced Book profit


Regards!!!
Dinesh S. Adhikari

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