Sec-184

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 November 2014 respected sir,
sec -184 of insists for instrument of partnership only. and there is no words like regestered partnership deed.and in my opinion there is necessary to register partnership agreement or deed to claim exemptions for interest and renumaration paid to partners .please discuss

Amol S Joglekar

Amol S Joglekar (Expert)
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22 November 2014 Registration of partnership is not compulsory under Income Tax Act. The manner in which the ICSBR (Interest,Commission, Salary,Bonus, Remuneration)is to be mentioned/ spelt out in the deed, that is what it asks for.