Calculation of partners remuneration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 August 2012
Dear Sir
Please tell me how i calculate partners remunerations what is the percentage of these calculation.
Please tell me how i calculate partners remunerations what is the percentage of these calculation.
16 August 2012
As per the provision of income tax partners remuneration can be computed as follows;
1. For the first 3,00,000 of profit Rs.1,50,000 or 90% of profit whichever is higher.
2. For the balance of Profit @ 60%
1. For the first 3,00,000 of profit Rs.1,50,000 or 90% of profit whichever is higher.
2. For the balance of Profit @ 60%
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