Np ratio calulation in clause 32 of 3cd report
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2011
In case of PARTNERSHIP FIRM, how to calculate the NP Ratio in Clase 32 of 3CD Report????
Whether NP to be consider without deducting the Interest on partners Capital A/c & Remuneration to partners?
or after deducting it?
Please reply with suitable guidance note/rule.
Very thanks in advance
Whether NP to be consider without deducting the Interest on partners Capital A/c & Remuneration to partners?
or after deducting it?
Please reply with suitable guidance note/rule.
Very thanks in advance
CA Ashwani Agarwal
(Expert)
08 September 2011
It has to be calculated after deducting the remuneration and interest to partners. No guidance note is needed for the same.
As both are allowabe expenditure so there is no need to get confused.
As both are allowabe expenditure so there is no need to get confused.
Mihir Doshi
(Expert)
08 September 2011
yes.....no need for any guidance note...agreed with the expert.
08 September 2011
Yes I also agree with the experts the NP ratio is to be calculated on the basis of NET profit and what is net profit is the profit after charging all expenses and provisions against the Profit.
Since partners remuneration and interest is charge against profit it is to be deducted for arriving at the net profit and the same is to be taken cor calculation of NP ratios.
Since partners remuneration and interest is charge against profit it is to be deducted for arriving at the net profit and the same is to be taken cor calculation of NP ratios.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST on reimbursement of expenses
- Query on effect of registration of property
- Visiting card purchase
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Foriegn assets disclosure
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Whether output tax is taken credit by purchaser
- Equity Share Sale and Purchase
- Additional trade name
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
