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Question
```Calculate Maximum allowable remuneration to working
partners as for section 40b of the Income Tax Act
1. In case of professional firm''
Question Submitted By :: Naveengokarapu@gmail.com
I also faced this Question!!     Rank Answer Posted By

Re: Calculate Maximum allowable remuneration to working partners as for section 40b of the Income Tax Act 1. In case of professional firm'' 2. Incase of Business Firm
# 1
1.In case of professional Firm

* On the first 1,00,000 of the book profit 90% on 50,000
which ever is more
* On the next 1,00,000 of the book profit 60% + 90,000
* On the balance 40% +1,50,000

* On the first 75,000Rs of book profit 90% of the book
profit or 50,000 which ever is more.
* On the next 75,000 rs 60% + 67,500
* on the balance 40% + 1,12,500 rs

 Is This Answer Correct ? 58 Yes 38 No
Naveengokarapu@gmail.com
[RKI Builders Pvt. Ltd]

Re: Calculate Maximum allowable remuneration to working partners as for section 40b of the Income Tax Act 1. In case of professional firm'' 2. Incase of Business Firm
# 2
In case of professional Firm

* On the first 300000 of the book profit 90% on 150,000
which ever is more

* On the balance 60%

Same as above

 Is This Answer Correct ? 66 Yes 11 No
Ankush

Re: Calculate Maximum allowable remuneration to working partners as for section 40b of the Income Tax Act 1. In case of professional firm'' 2. Incase of Business Firm
# 3
first 2 lacs it is 1.5 lac and then on balance will calculate 40%.
 Is This Answer Correct ? 11 Yes 13 No
Pintu Mishra

Re: Calculate Maximum allowable remuneration to working partners as for section 40b of the Income Tax Act 1. In case of professional firm'' 2. Incase of Business Firm
# 4
1.In case of professional Firm

* On the first 1,00,000 of the book profit 90% on 50,000
which ever is more
* On the next 1,00,000 of the book profit 60% + 90,000
* On the balance 40% +1,50,000

* On the first 75,000Rs of book profit 90% of the book
profit or 50,000 which ever is more.
* On the next 75,000 rs 60% + 67,500
* on the balance 40% + 1,12,500 rs

 Is This Answer Correct ? 6 Yes 12 No

Re: Calculate Maximum allowable remuneration to working partners as for section 40b of the Income Tax Act 1. In case of professional firm'' 2. Incase of Business Firm
# 5
Book Profit Rs. 3,00,000 in my firm
how much Parters Remuneration

 Is This Answer Correct ? 16 Yes 3 No
Laxman

Re: Calculate Maximum allowable remuneration to working partners as for section 40b of the Income Tax Act 1. In case of professional firm'' 2. Incase of Business Firm
# 6
In case of professional Firm

* On the first 300000 of the book profit 90% on 150,000
which ever is more

* On the balance 60%

Same as above

 Is This Answer Correct ? 18 Yes 3 No
Kubendran

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