Computation of partnership firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 December 2011
Sir
I am partner my partner ship firm .My firm gross receipts 1700000.00 and net profit 136000.00 U\s 44AD 8%.
computation of tax :
net profit : 136000.00
Less: Partner Salary : 72000.00
Less:partner capital interest: 36000.00
net income : 28000.00
Tax liability : 28000.00
please give me suggession my calculation are right .
I am partner my partner ship firm .My firm gross receipts 1700000.00 and net profit 136000.00 U\s 44AD 8%.
computation of tax :
net profit : 136000.00
Less: Partner Salary : 72000.00
Less:partner capital interest: 36000.00
net income : 28000.00
Tax liability : 28000.00
please give me suggession my calculation are right .
09 December 2011
u can claim partner remuneration at 122400 or amount actually paid
Say amount actualyy paid is 122400 then after intt there will be loss
CA MANOJ GUPTA
JODHPUR
09828510543
Say amount actualyy paid is 122400 then after intt there will be loss
CA MANOJ GUPTA
JODHPUR
09828510543
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