CA Sansaar
- All Categories
- Income Tax (1634)
- Students (770)
- Service Tax (497)
- Corporate Law (465)
- Audit (399)
- Accounts (341)
- VAT (277)
- GST (145)
- Excise (106)
- Finance (105)
- Banking (46)
- FEMA (40)
- Custom (29)
- Shares & Stock (18)
- IFRS (18)
- Income Tax Software (5)
- Cost Inflation Index (1)
Recent
- Income Tax Notice Received: What Should a Taxpayer Do?
- IN A GOVT OWENED PSU, MAKE PROVISION IN ACCOUNTS FOR ITEM HAVING CONTIGENCY IN NATURE
- GST Notice Received: How Should a Taxpayer Respond?
- CA vs CMA: Which is better?
- Can a Chartered Accountant Sign Estimated Financial Statements?
- Want to assist in Forensic Audit
- Revising 3CA 3CD to 3CB 3CD
- LFAR in Bank Branch Audit - Clause-by-Clause Discussion by CA Vivek Khurana Notes required
- Bank Branch Audit
- Got high refund
- Form 67
- GSTR9
- Partner of CA firm required
- RENEWAL OF REGISTRATION
- financial statements
- income Tax
- ITR Filing
- Property Attachement
- Liability of Independent and Non-executive director
- financial statements
- stock statement procedure for bank od loan
- ITR FILING OF ARMY UNIT
- signing of Project report
- NON CORPORATE BALANCE SHEET FORMAT
- CA FINAL
- Accounting Treatment of Mutual Fund under IndAS
- ITC Availed & Utilized on Supply from Non-Existent Firms
- GST Liability of Award received by a Company
- Reund of TDS Excess Deposited
- Income Tax TDS
- gst
- Reconstitution of partnership firm in case of death of partner and introduction of new partner
- Consolidattion of financial statemement
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- NR GST NUMBER
- Presumptive Income
- tax audit late filing penality provision applicable f.y.23-24
- Interest in outstanding demand
- sale turnover declared as per books or AIS show in itr f.y.23-24
- GST
Q. > Please Help: FINALISATION OF BS
SIR WE ARE HAVING HEAD OFFICE AT FIROZABAD AND BRACH OFFICE AT AGRA MY QUESTION IS THAT HOW TO FINAL THE BS OF FIRM MEANS AGRA BRANCH AND HEAD OFFICE ARE PREPARING SEPRATE BOOKS OF ACCOUNTS AND SEPRATE BS AND IN OUR PARTNERSHIP DEEP PROFIT OF HEADOFFICE SHALL BE BORNE 100 BY ONE PARTNER AND THE PROFIT OF BRANCH OFFICE SHALL BE BORNE BY THREE PARTNERS IN AGREED RATION MY QUERY IS HOW THE REMUNERATION SHALL BE WORK OUT AS PER 40 B OF INCOME TAX ACT
MEANS SHALL WE WORK OUT THE REMUNERATION OF BRANCH AND HEAD OFFICE SEPRETALY AND LATTER ON MERGE THE FINAL BS AND TO WORK OUT THE PROFIT SHARE YA PHIR FIRSTLY COMBINED THE TOTAL BS THEN CALCULATE THE REMUNERATION AND PROFIT
answered Dec 03, 2013 by shankygarg , Karnal
AS PER THE SEC 40(B), LIMITS FOR THE REMUNERATION ARE BASED ON BOOK PROFITS & FOR ITS CALCULATION ,FOR INCOME TAX PURPOSE,BOOK PROFITS i.e. final profit WILL BE TAKEN. SO, BOTH PROFIT & REMUNERATION SHOULD BE CALCULATED ON COMBINED PROFIT.
Experts Panelist
Comments
SUBHASH KUMAR JHA
07-Dec-2013 , 11:06:08 amfirstly combine the total bs then calculate remuneration and profit.