A partnership firm has net profit of ₹6,20,000 before deducting interest on capital to partners @ 15% of ₹1,50,000 and working partner salary of ₹1,80,000 (as per the deed of partnership). The total income of the firm ch
CS Executive · Tax Laws and Practice · PYQS · December 2016
A partnership firm has net profit of ₹6,20,000 before deducting interest on capital to partners @ 15% of ₹1,50,000 and working partner salary of ₹1,80,000 (as per the deed of partnership). The total income of the firm chargeable to tax would be —
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
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