27 August 2014
While calculating Remuneration to Partners u/s 40b(v) should the Depreciation of Current year should also be added or not?? If so where is it said?? Please clarify..
27 August 2014
For the purpose of calculation of book profits for calculating allowable remuneration to partners depreciation is not required to be added. Book profits should be before such remuneration but after providing all eligible deductions including interest on capital.
CAclubindia
