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

CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)
Follow

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.

Mihir Doshi

Mihir Doshi (Expert)
Follow

08 September 2011 yes.....no need for any guidance note...agreed with the expert.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Shubham Jain

Michael & Co.

shreesh acharya

CA K GIRIDHAR

Chandrasekhar gadde

Subscribe Now

Np ratio calulation in clause 32 of 3cd report

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA