Dear All
Can someone please email me in excel prefrably as to how to compute remuneration to partners as per IT act
Regards
2 Replies
CA. Rajeev Aggarwal
(Chartered Accountant)
(3424 Points)
Replied 16 January 2009
sorry, i don't know how it posted here
Nikhil Kumar
(CA , Qualified CPA)
(910 Points)
Replied 16 January 2009
Its quite simple- you can make a spreadsheet of your own-
the rule is as follows:
a) On the first Rs. 75,000 of _ Rs. 50000 or @ 90% of book profit, whichever
the book profits is more
b) On the next Rs. 75,000 _ @ 60%
c) On the balance of _ @ 40%
book profit
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