is there any legal or tax complication if i want to give salary to 2 out of 4 working partner in my firm not to any other. Partners dont have any problem regarding that. Is there any tax provision that stops me doing so?
Arun (Student CA Final ) (142 Points)
30 March 2013is there any legal or tax complication if i want to give salary to 2 out of 4 working partner in my firm not to any other. Partners dont have any problem regarding that. Is there any tax provision that stops me doing so?
CA BHUMIT SHAH
(Consultant )
(270 Points)
Replied 31 March 2013
THE PARTNERSHIP DEED SHOULD MENTION THAT SALARY SHOULD BE GIVEN ONLY TO 2 OUT OF 4 PARTNERS THEN ONLY YOU WILL GET DEDUCTION U/S 40 B
CAclubindia
