In a partnership firm if it is having huge loss then when we calculate it's book profit if it comes to below 75000..
then how can we calculate remuneration payble to partner..
2 Replies
Neel Daga
(2 Points)
Replied 03 July 2020
As per section 40(b)
If your Book profit is below Rs.300000, you have to pay remuneration 150000 or 90% of book profit whichever is higher
And above Rs.300000 60% of Book profit
If your Book profit is below Rs.300000, you have to pay remuneration 150000 or 90% of book profit whichever is higher
And above Rs.300000 60% of Book profit
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