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Income tax act, 1961. Question 14: A partnership firm in the business of civil construction furnishes you the following data for Previous Year ended 31.3.2021.
Income tax act, 1961.
Question 14: A partnership firm in the business of civil construction furnishes you the following data for Previous Year ended 31.3.2021. Profit & Loss Account Particulars Amount Particulars Amount Expenses 24,00,000 Gross receipts (Cash) 30,00,000 Interest @ 24% 2,00,000 Salary to Partners: Partner A 10,000 p.m. 1,20,000 Partner B 8,000 p.m. 96,000 2,16,000 Net Profit 1,84,000 Total 30,00,000 Total 30,00,000 Compute the income of the firmStep by Step Solution
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Financial And Managerial Accounting El Camino College Edition
Authors: Haka Bettner Carcello Williams
1st Edition
0077838246, 978-0077838249
