Income Tax - Computation of Total Income of the Firm & Partners

Subject: Income Tax Topic: - Computation of Total Income of the Firm & Partners Computation of Total Income of the Firm & Partners: - A firm shall be assessed as a firm if the partnership is evidenced by an instrument and the individual shares of the partners are specified in that instrument. Book Profit: - It means the net profit as per Profit & Loss Account for the relevant previous year computed in accordance with Section 30 to 44D as increased by the aggregate amount of remuneration paid to all the partners of the firm, if such amount has been deducted while computing the net profit. Please Visit and Subscribe my Channel “Mini's Tutorials" Channel Link:    • Find Break Even Point from Marginal Costing -   ENQUIRY FOR ONLINE/OFFLINE SPECIAL TUITION - CONTACT: 96456 94965 Post your comments and suggestions in the comment box or Write to: tutorials.miniklouis@gmail.com