Commission to a partner
This query is : Resolved
08 July 2012
Dear Sirs and Friends,
Can any commission given to a partner for giving guarantee for repayment of loan be considered as Appropriation of profit, the way we consider salary given to the partner or the same has to be considered as commission recd, in the books of Partner . Please suggest.
Can any commission given to a partner for giving guarantee for repayment of loan be considered as Appropriation of profit, the way we consider salary given to the partner or the same has to be considered as commission recd, in the books of Partner . Please suggest.
08 July 2012
Please refer Section 40(b)(i).
It reads as
" any paymenet of salary, bonus, commission or remuneration , by whatever name called (hereinafter referred to as " remuneration")
........
.
The same can be considered as the part of the remuneration.
It reads as
" any paymenet of salary, bonus, commission or remuneration , by whatever name called (hereinafter referred to as " remuneration")
........
.
The same can be considered as the part of the remuneration.
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