how to calclulate profit u/s 40 b?????

This query is : Resolved

CA Lokesh Pokharna (Querist)
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16 February 2010 net profit as per books+salary,comission,DA to partners=book profir
m i right?????
also tell me sir that @ 150000 or 90% of book profit --is it for per partner or for all partners?????????

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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17 February 2010 It is for ALL partners.

and this limit is applicable from the A.Y. 2011-12.

for the A.Y. 2010-11 it is Rs. 50,000 or 90%(whichever is higher)

Regards!!!

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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17 February 2010 It is for ALL partners.

and this limit is applicable from the A.Y. 2011-12.

for the A.Y. 2010-11 it is Rs. 50,000 or 90%(whichever is higher)

Regards!!!

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CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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17 February 2010 It is for ALL partners.

and this limit is applicable from the A.Y. 2011-12.

for the A.Y. 2010-11 it is Rs. 50,000 or 90%(whichever is higher)

Regards!!!