A partnership firm have a remuneration clause in partnership deed in a same way as normally every deed contains like compliance of Sec 40b.


Say for a FY max allowable salary is 30lac, and firm distribute among partner in ratio of 5:3:2 but profit sharing ratio is 3:1:1 My query is whether firm can distribute salary in this manner(5:3:2)??

Does income tax alllow it??



secondly can same partnership firm distribute salary in next year in 77:13:10, but again profit sharing ratio remain 3:1:1??? Does consistency have to be followed every year for income tax???

Partnership deed doesnot contain any clause regarding distribution of salary among partner, but defined only max amount allowed.


Please help and clarify

Can anybody suggest me for the preparation of ca final examination by self study. As I m not very much depend on coaching classes. I want to prepare on my own.

Plz suggest me for this.

Sir I just wants to know that sale of Computer Software attracts Service Tax????
Sir Please Reply as soon as possible................................

hello frends,

i want to know that a individual(income from business & profession) can claim any deduction of school fees of children under 80c or any other section...

if yes then what is the limit to this..

If i made some purchases from foreign country and i make payment to his agent outside india in foreign currency will TDS be deducted??
If yes under which section and at what rate???

How it can be substantiate that person having benefit of exemption notification 33/2013 is require to furnish ST-3 if he is not liable to pay service tax..

Please refer the section and its crux..

Ashwani kumar

dear Sir
I will join a Branch retail shop. There are 5 retail branches. So I think separate account will keep for each branch and at the time of year end all the branch accounts should be consolidate in a single balance sheet and P/L a/c. I am the accountant of the all the branches.
Is it right?

Thanks in advance

Dear Sir,

Our co. has taken spa service from hongkong So we have to paid 10 lac to Hongkong co. so how much TDS has to be deducted

Hi, I am Rajesh Sharma and looking for Articleship in Pune in a mid sized firm which provides exposure to Taxation, Statutory Audit, Internal audit. I have cleared the IPCC(group1) exams which was held in May 2012 and awaiting for the result of group 2. I am new to Pune and I dont have any details regarding CA firms in pune. Can someone please provide me list of good mid sized CA firms in Pune so that I can apply for the articleship. Thanks in advance.

I have a query on whether AO during assessment of Salaried person will take gross income from Salary as per Form 16 issued by Employer or As per Form 26AS?

Thanks in Advance.