Question

W LUT
Pays ulet
Aas been
debentures.
ILLUSTRATION 2
₹
₹
1,20,000
Salary
to A
to B
to A
1,60,000
1,40,000
1,20,000
Commission
Interest on Capital @ 15%
to A
to B
30,000
15,000
Calculate firm's income under the head profits and gains for the assessment year 2018-19 from
information given below:
The payments to partners A & B (who are working partners) have been made in accordance with
partnership deed whose certified copy has been submitted along with return of income for the
Asessment year 2018-19. Also compute the individual income of partner A & B which is taxable
under the head Profits & Gains.
Net Profit as per P & L A/c (after debiting the following)​

Answer 1

Answer:

1,00,00,000

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