Ram & Co., a partnership firm worked out total book profits for the year ended 31st March 2021 of ₹ 6,00,000 and has made payment of salary of ₹ 4,60,000 authorized by the partnership deed to the working partners. The firm wants to know that how much amount of salary paid to partners be allowable as deduction in A.Y. 2021-22.

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Question:
Ram & Co., a partnership firm worked out total book profits for the year ended 31st March 2021 of ₹ 6,00,000 and has made payment of salary of ₹ 4,60,000 authorized by the partnership deed to the working partners. The firm wants to know that how much amount of salary paid to partners be allowable as deduction in A.Y. 2021-22.

1.₹ 4,60,000

2.₹ 3,90,000

3.₹ 2,70,000

4. ₹ 4,50,000

Posted Date:-2022-08-28 04:36:21

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