Remuneration of Salary Elgibility

This query is : Resolved

KRISHNAMOORTHI.V (Querist)
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14 September 2010 Dear Sir ,
Please Calculated the Salary Elgibility Calculation

Partner Salary 1,20,000

Book Profit 1,75,684

How Should be Calculated Please help

Aditya Maheshwari

Aditya Maheshwari (Expert)
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14 September 2010 Book profit for 40(a) = 175684 + 120000 = 295684

Assumed old rates

90% of 1st 75,000 67,500
60% of next 75,000 45,000
40% of Balance Rs. 145684/- 58,274

remuneration allowable Rs. 170,774/-.

Since amount to be paid 120000/- fully allowed.