Edward K Gill
(I provide consultations)
(17 Points)
Replied 27 September 2023
Partner salaries are typically deducted from the partnership's net profit, not the gross profit, and this deduction is done before calculating taxable income. The net profit, which includes partner salaries as expenses, is the basis for taxation and partner distributions. Specific rules may vary by jurisdiction, so consult a tax advisor for guidance.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 27 September 2023
My Videos
(Accounts Officer )
(717 Points)
Replied 29 September 2023
My Videos
(Accounts Officer )
(717 Points)
Replied 01 October 2023
kind response awaited from Sir Edward K Gill.
My Videos
(Accounts Officer )
(717 Points)
Replied 07 October 2023
Dear Edward K Gill Sir,
Your kind response awaited on above.
CAclubindia
