Salary to partner

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2015 Dear Sir/Mam,
I would like to ask as if a partner can be allowed the deduction of expenses from the salary received from the partnership firm? And if yes, the are there any limits?

Do mention relevant section(s)
Thanks

Amol S Joglekar

Amol S Joglekar (Expert)
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21 September 2015 Partner can always claim deduction from such a salary income from FIRM. There is no any SPECIFIC section for the same. It, therefore, follows the residuary section 36.

That expenditure which is incurred to earn this salary income of firm can be claimed as deduction. There is NO any standard formula for the same.

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