Mr. C aged 35 years is a working partner in M/s BCD, a partnership firm, with equal profit sharing ratio. During the P.Y. 2023-24, the firm has paid remuneration to Mr. B, Mr. C and Mr.D, being the wo

Question

S.K😎 · Answer

Paid *from

S.K😎 · Answer

Hey Salman..Remuneration is paid after from Net profit after Interest on capital....?

Salman · Answer

Total book profit 488000 I.e before charging remuneration so that 488000-600000=112000 loss According to section 40b Maximum remuneration payable when book profits greater than 300000 Is 270000 +60% of (488000-300000) = 382800 So divide by three partners Per partner 127600

Mr. C aged 35 years is a working partner in M/s BCD, a partnership firm, with equal profit sharing ratio. During the P.Y. 2023-24, the firm has paid remuneration to Mr. B, Mr. C and Mr.D, being the wo

3 answers

Ask your doubt in the Studycaller app