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Calculate Maximum allowable remuneration to working
partners as for section 40b of the Income Tax Act
1. In case of professional firm''
2. Incase of Business Firm

Answers were Sorted based on User's Feedback



Calculate Maximum allowable remuneration to working partners as for section 40b of the Income Tax ..

Answer / ankush

In case of professional Firm

* On the first 300000 of the book profit 90% on 150,000
which ever is more

* On the balance 60%

2.In case of Business Firm

Same as above

Is This Answer Correct ?    105 Yes 19 No

Calculate Maximum allowable remuneration to working partners as for section 40b of the Income Tax ..

Answer / kubendran

In case of professional Firm

* On the first 300000 of the book profit 90% on 150,000
which ever is more

* On the balance 60%

2.In case of Business Firm

Same as above

Is This Answer Correct ?    36 Yes 7 No

Calculate Maximum allowable remuneration to working partners as for section 40b of the Income Tax ..

Answer / naveengokarapu@gmail.com

1.In case of professional Firm

* On the first 1,00,000 of the book profit 90% on 50,000
which ever is more
* On the next 1,00,000 of the book profit 60% + 90,000
* On the balance 40% +1,50,000

2.In case of Business Firm

* On the first 75,000Rs of book profit 90% of the book
profit or 50,000 which ever is more.
* On the next 75,000 rs 60% + 67,500
* on the balance 40% + 1,12,500 rs

Is This Answer Correct ?    74 Yes 52 No

Calculate Maximum allowable remuneration to working partners as for section 40b of the Income Tax ..

Answer / laxman

Book Profit Rs. 3,00,000 in my firm
how much Parters Remuneration
send me answer
Business firm

Is This Answer Correct ?    25 Yes 5 No

Calculate Maximum allowable remuneration to working partners as for section 40b of the Income Tax ..

Answer / pintu mishra

first 2 lacs it is 1.5 lac and then on balance will calculate 40%.

Is This Answer Correct ?    17 Yes 21 No

Calculate Maximum allowable remuneration to working partners as for section 40b of the Income Tax ..

Answer / sarat badatiya

1.In case of professional Firm

* On the first 1,00,000 of the book profit 90% on 50,000
which ever is more
* On the next 1,00,000 of the book profit 60% + 90,000
* On the balance 40% +1,50,000

2.In case of Business Firm

* On the first 75,000Rs of book profit 90% of the book
profit or 50,000 which ever is more.
* On the next 75,000 rs 60% + 67,500
* on the balance 40% + 1,12,500 rs

Is This Answer Correct ?    11 Yes 19 No

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