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Net Profit Calculation per Sec 198 & 309

The document shows the calculation of net profit as per sections 198 and 309(5) of the Act for the years 2019-20, 2018-19, and 2017-18. In 2019-20, the net profit after taxation was Rs. 3,830,830 lakh. After adding provisions for taxation, interest, depreciation, managerial remuneration, and other expenses totaling Rs. 16,088,415 lakh and subtracting nil expenses, the net profit as per sections 198 and 309(5) of the Act was Rs. 19,919,245 lakh.

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Isha Shah
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867 views2 pages

Net Profit Calculation per Sec 198 & 309

The document shows the calculation of net profit as per sections 198 and 309(5) of the Act for the years 2019-20, 2018-19, and 2017-18. In 2019-20, the net profit after taxation was Rs. 3,830,830 lakh. After adding provisions for taxation, interest, depreciation, managerial remuneration, and other expenses totaling Rs. 16,088,415 lakh and subtracting nil expenses, the net profit as per sections 198 and 309(5) of the Act was Rs. 19,919,245 lakh.

Uploaded by

Isha Shah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Net Profit as per section 198 and 309(5) Of the Act

2019-20
Particulars Rs/Lakh Rs/Lakh
Net Profit after Prov. For Taxation 3,830,830

Add:
Provision for taxation 5,412,462
Interest on short of payment of advance tax 63,753
Directors fees
Depreciation as per books
Managerial remuneration 10,612,200
Provision for diminution in the value of investments
Provision for bad debts
Provision for wealth tax
Ex-gratia payment to an employee
16,088,415

Total 19,919,245

Less:
Depreciation as per Sec.350
Profit on sale of investments
Prior period adjustments (credit)
Capital profit on sale of part of the Undertaking
-

Net Profit as per section 198 and 309(5) Of the Act 19,919,245
2018-19 2017-18
Rs/Lakh Rs/Lakh Rs/Lakh Rs/Lakh
1,815,764 21,737,706

1,280,624 18,459,870
- 19,096

10,800,000 12,000,000

12,080,624 30,478,966

13,896,388 52,216,672

- -

13,896,388 52,216,672

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