5/3/24, 12:58 PM Partners' Remuneration

REMUNERATION TO PARTNERS

Net profit/​(loss) as per profit & Loss account​ 28,50,000.00

Add : Items debited to Profit & loss account

Name of Amount of
S.No. Rate Action
Partner​​ Interest

1 1 12.00 10,00,000.00

2 2 12.00 10,00,000.00 remove

3 3 12.00 10,00,000.00 remove

Add More

Total interest paid to partners 30,00,000

Remuneration to partners 45,00,000.00

Salary to partners 0.00

Bonus to partners 0.00

Commission to partners 0.00

Total remuneration allowed 45,00,000

Depreciation 0.00

Interest paid to partners and other disallowances 0.00

Profit before interest, depreciation & remuneration 1,03,50,000

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5/3/24, 12:58 PM Partners' Remuneration

Less : Interest on capital to partners @ 12% 30,00,000

Please check the interest allowed as per income-tax act. In case any capital is
introduced or withdrawn during the year, please change the interest amount
manually.​​

Depreciation allowable as per income-tax act, 1961 0.00

Other allowable items 0.00

Book profit 73,50,000

Maximum remuneration allowable as per section 45,00,000

40(b) of income tax act, 1961 (A)

Total remuneration allowed as per books of account 45,00,000

(B)

Remuneration inadmissible under section 0

40(b) /40(ba) (B - A)

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Advisory: Information relates to the law prevailing in the year of publication/ as indicated.
Viewers are advised to ascertain the correct position/prevailing law before relying upon any
document.​

​Disclaimer: The above calculator is only to enable public to have a quick and an easy
access to basic tax calculation and does not purport to give correct tax calculation in all
circumstances. It is advised that for filing of returns the exact calculation may be made as
per the provisions contained in the relevant Acts, Rules etc.

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