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The total income of a AOP in which A, B, andC are the member share profit and loss in the ratio s of 1:2:2was assessed at 16000. In computing the total income of 16000 the income tax officer has made the necessary adjustments in of the following sums. Salaries of12000 and 8000 to And Respectively. Interest On1000,6000,and25000 to A, B, AndC respectively. Commission of 2000,5000,and 7000?
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The total income of a AOP in which A, B, andC are the member share pro...
Total Income of AOP
The total income of AOP (Association of Persons) is assessed at 16000.
Ratio of Profit and Loss
The ratio of profit and loss between the members A, B, and C is 1:2:2.
Adjustments made by Income Tax Officer
The Income Tax Officer has made the following adjustments in computing the total income of 16000:
1. Salaries of 12000 and 8000 to A and B respectively.
2. Interest on 1000, 6000, and 25000 to A, B, and C respectively.
3. Commission of 2000, 5000, and 7000.
Explanation
The Income Tax Officer has made adjustments to the total income of AOP by deducting the salaries, interest, and commission paid to the members from the total income of 16000.
Salaries Paid
The salaries paid to members A and B are deducted from the total income as they are considered as expenses of the AOP.
Interest Paid
The interest paid to the members A, B, and C is also considered as an expense of the AOP and is deducted from the total income.
Commission Paid
The commission paid to the members is also considered as an expense of the AOP and is deducted from the total income.
Conclusion
The Income Tax Officer has made necessary adjustments to the total income of AOP by deducting the salaries, interest, and commission paid to the members. This is done to arrive at the actual income of the AOP, which is then taxed accordingly.
The total income of AOP (Association of Persons) is assessed at 16000.
Ratio of Profit and Loss
The ratio of profit and loss between the members A, B, and C is 1:2:2.
Adjustments made by Income Tax Officer
The Income Tax Officer has made the following adjustments in computing the total income of 16000:
1. Salaries of 12000 and 8000 to A and B respectively.
2. Interest on 1000, 6000, and 25000 to A, B, and C respectively.
3. Commission of 2000, 5000, and 7000.
Explanation
The Income Tax Officer has made adjustments to the total income of AOP by deducting the salaries, interest, and commission paid to the members from the total income of 16000.
Salaries Paid
The salaries paid to members A and B are deducted from the total income as they are considered as expenses of the AOP.
Interest Paid
The interest paid to the members A, B, and C is also considered as an expense of the AOP and is deducted from the total income.
Commission Paid
The commission paid to the members is also considered as an expense of the AOP and is deducted from the total income.
Conclusion
The Income Tax Officer has made necessary adjustments to the total income of AOP by deducting the salaries, interest, and commission paid to the members. This is done to arrive at the actual income of the AOP, which is then taxed accordingly.
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The total income of a AOP in which A, B, andC are the member share profit and loss in the ratio s of 1:2:2was assessed at 16000. In computing the total income of 16000 the income tax officer has made the necessary adjustments in of the following sums. Salaries of12000 and 8000 to And Respectively. Interest On1000,6000,and25000 to A, B, AndC respectively. Commission of 2000,5000,and 7000?
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The total income of a AOP in which A, B, andC are the member share profit and loss in the ratio s of 1:2:2was assessed at 16000. In computing the total income of 16000 the income tax officer has made the necessary adjustments in of the following sums. Salaries of12000 and 8000 to And Respectively. Interest On1000,6000,and25000 to A, B, AndC respectively. Commission of 2000,5000,and 7000? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about The total income of a AOP in which A, B, andC are the member share profit and loss in the ratio s of 1:2:2was assessed at 16000. In computing the total income of 16000 the income tax officer has made the necessary adjustments in of the following sums. Salaries of12000 and 8000 to And Respectively. Interest On1000,6000,and25000 to A, B, AndC respectively. Commission of 2000,5000,and 7000? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The total income of a AOP in which A, B, andC are the member share profit and loss in the ratio s of 1:2:2was assessed at 16000. In computing the total income of 16000 the income tax officer has made the necessary adjustments in of the following sums. Salaries of12000 and 8000 to And Respectively. Interest On1000,6000,and25000 to A, B, AndC respectively. Commission of 2000,5000,and 7000?.
The total income of a AOP in which A, B, andC are the member share profit and loss in the ratio s of 1:2:2was assessed at 16000. In computing the total income of 16000 the income tax officer has made the necessary adjustments in of the following sums. Salaries of12000 and 8000 to And Respectively. Interest On1000,6000,and25000 to A, B, AndC respectively. Commission of 2000,5000,and 7000? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about The total income of a AOP in which A, B, andC are the member share profit and loss in the ratio s of 1:2:2was assessed at 16000. In computing the total income of 16000 the income tax officer has made the necessary adjustments in of the following sums. Salaries of12000 and 8000 to And Respectively. Interest On1000,6000,and25000 to A, B, AndC respectively. Commission of 2000,5000,and 7000? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The total income of a AOP in which A, B, andC are the member share profit and loss in the ratio s of 1:2:2was assessed at 16000. In computing the total income of 16000 the income tax officer has made the necessary adjustments in of the following sums. Salaries of12000 and 8000 to And Respectively. Interest On1000,6000,and25000 to A, B, AndC respectively. Commission of 2000,5000,and 7000?.
Solutions for The total income of a AOP in which A, B, andC are the member share profit and loss in the ratio s of 1:2:2was assessed at 16000. In computing the total income of 16000 the income tax officer has made the necessary adjustments in of the following sums. Salaries of12000 and 8000 to And Respectively. Interest On1000,6000,and25000 to A, B, AndC respectively. Commission of 2000,5000,and 7000? in English & in Hindi are available as part of our courses for B Com.
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The total income of a AOP in which A, B, andC are the member share profit and loss in the ratio s of 1:2:2was assessed at 16000. In computing the total income of 16000 the income tax officer has made the necessary adjustments in of the following sums. Salaries of12000 and 8000 to And Respectively. Interest On1000,6000,and25000 to A, B, AndC respectively. Commission of 2000,5000,and 7000?, a detailed solution for The total income of a AOP in which A, B, andC are the member share profit and loss in the ratio s of 1:2:2was assessed at 16000. In computing the total income of 16000 the income tax officer has made the necessary adjustments in of the following sums. Salaries of12000 and 8000 to And Respectively. Interest On1000,6000,and25000 to A, B, AndC respectively. Commission of 2000,5000,and 7000? has been provided alongside types of The total income of a AOP in which A, B, andC are the member share profit and loss in the ratio s of 1:2:2was assessed at 16000. In computing the total income of 16000 the income tax officer has made the necessary adjustments in of the following sums. Salaries of12000 and 8000 to And Respectively. Interest On1000,6000,and25000 to A, B, AndC respectively. Commission of 2000,5000,and 7000? theory, EduRev gives you an
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