banner_ad

Income tax Act 1961 Section 40 ( b)

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
29 March 2011 Any one please till me

If the partners deed specified partner salary 5000/- per month

If partner ship income is loss for the year

How much remuneration will be debited in income & expenses account

How much deduction in Statement of income
Profile Image

CA. Lohith Jagadeesh

Profile Image

CA. Lohith Jagadeesh (Expert)
30 March 2011 Hi,

In the case of Loss, the partners are eligible for the 1st slab of Mininmum amount given under Section 40b as it says which ever is lesser.

Thank you,

Regards
CA. LOHITH.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
30 March 2011 Ok sir thank you?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details