Llp
This query is : Resolved
sejal parmar
(Querist)
26 February 2016
Is there any restrictions for payments to designated partners as per llp act 2008 or as per income tax act?
CA Vap Patel
(Expert)
27 February 2016
There is no restriction on payment of remuneration to partners like in companies, but the remuneration must be authorized by the LLP agreement and it cannot exceed the limit prescribed under the agreement.
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