Surabi Textiles (firm) incurred a business loss of ₹ 4,40,000 for the assessment year 2021-22 before the allowance of working partner salary. The firm paid a working partner salary of ₹ 1,20,000 each to three partners. The business income of the firm for the assessment year 2021-22 after deduction of working partner salary is:

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Question:
Surabi Textiles (firm) incurred a business loss of ₹ 4,40,000 for the assessment year 2021-22 before the allowance of working partner salary. The firm paid a working partner salary of ₹ 1,20,000 each to three partners.
The business income of the firm for the assessment year 2021-22 after deduction of working partner salary is:

1. Loss ₹ 5,90,000

2.Loss ₹ 4,40,000

3.Loss ₹ 80,000

4. Loss ₹ 8,00,000

Posted Date:-2022-08-28 04:31:47

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