Can a partnership firm give both the renumeration and salary to the partners
This query is : Resolved
kamran Ahmed
(Querist)
11 September 2023
If the partnership firm is paying renumeration as per the rules and limit set by government. Can the firm also give salary to the partner over and above the renumeration ?
CA Prateek Garg
(Expert)
11 September 2023
Firm can give as much as it wants... however anything paid over and above specified limit will be disallowed for the purpose of computing taxable income of the firm.
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