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Partners remuneration allowability

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(Querist)
24 June 2015 net profit is 106500/. partners salary debited 96000. while calculating tax liablity what amount should be deductible as per section 40b.? plse help me
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Rupesh Jain

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Rupesh Jain (Expert)
24 June 2015 up to rs. 3 lacs book profit = Rs. 150000/- or 90% of book profit which ever is higher

after that 60% of remaining book profit.

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