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Tax audit u/s 44ab

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(Querist)
09 August 2011 Dear sir,
I want to know that, in a case of partnership firm, for the purpose of Form 3CD,net profit ratio shall be calculated on the basis of profit after partner's salary or profit before partner's salary.

whereas in accounting, partner's salary is shown in the P&L appropriation account.
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CA. Anoop Gadia

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CA. Anoop Gadia (Expert)
10 August 2011 Ratio calculation done after partners salary
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
10 August 2011 Clause 32 (b) of form 3CD should be calculated on the end result meaning thereby profit after remuneration has to be considered.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
10 August 2011 I agree with the experts

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