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40(b)

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(Querist)
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
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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.
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CA BIREN SHAH

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CA BIREN SHAH (Expert)
06 May 2012 agree with expert.
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