Accounts
This query is : Resolved
16 June 2016
payment of partner salary in case of loss made to partners is compulsory or not. and interest on capital.
please advice me.
please advice me.
16 June 2016
if you have clause in partnership deed that you give the remuneration as income tax act 40(b) and if any clause that in case of loss you are not giving remuneration. then you can don't give the remuneration. but as per income tax you can give the remuneration in case of loss. but regarding the intt. of capital there is no such prov in the income tax, for that you have to see the partner ship deep.
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