For calculating book profit for the purpose of remuneration to partners in case of partnership firm FBT is deductable or not
4 Replies
Mohit
(Qualified CA & CS)
(71 Points)
Replied 25 December 2009
NO FBT IS NOT DEDUCTIBLE FOR THE PURPOSE OF CALCULATION OF BOOK PROFIT FOR REMUNERATION TO PARTNERS. HOWEVER W.E.F FINANCIAL YEAR 2009-10, FBT HAS BEEN ABOLISHED, HENCE NO QUESTION OF FBT DEDUCTABILITY
Shriti Daga
(Chartered Accountant)
(102 Points)
Replied 26 December 2009
FBT is abolished wef 1.4.2009
PRAVEEN KUMAR
(MBA (Finance) B.Com.(P))
(3443 Points)
Replied 28 December 2009
YES, FBT is abolished wef 1.4.2009.
so Mast Raho. No Tension
:-)
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