Partner remuneration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 October 2013
If partner didn't decided in deed how much remuneration will paid ? and paid as share of allowed remuneration
1. do it is unwanted thing and if penalized under which section ??
2. can partners can received remuneration in cash or its compulsory to take in a/c payee cheque only
3. do paid amount is eligible for deduction or payable amount transfer to its capital amount is it ok ?
4. any other thing which is valuable to know
1. do it is unwanted thing and if penalized under which section ??
2. can partners can received remuneration in cash or its compulsory to take in a/c payee cheque only
3. do paid amount is eligible for deduction or payable amount transfer to its capital amount is it ok ?
4. any other thing which is valuable to know
05 October 2013
Refer sec 40(b) of income tax act 1961 for all your doubts to be clearified.
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