40(b)
This query is : Resolved
05 May 2012
remuneration in case of loss or zero profit in case of builder--------no rem as specified in deeed
but IT says 150000 in case of loss /zero profit .Sec also specifies tht salary must be authorised by deed
that means what is given in deed is final i.e. no salary shall be allowable unser it act
but IT says 150000 in case of loss /zero profit .Sec also specifies tht salary must be authorised by deed
that means what is given in deed is final i.e. no salary shall be allowable unser it act
Guest
Guest
(Expert)
06 May 2012
IT specifies the max allowable salary in case of loss. 2ndly it shall be mentioned in d deed oderwise that wont be allowed.
CA BIREN SHAH
(Expert)
06 May 2012
agree with expert.
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