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Partner's remuneration

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(Querist)
18 March 2011 Hi
If a partner is earning a remuneration of INR 1 lac, but he is withdrawing only INR 30,000, how much will he show in his return and what about the balance if any.
Thank you
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safiuddin mondal

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safiuddin mondal (Expert)
18 March 2011 pl. do the following journal entry
cash a/c dr 30,000.00
investment in partnership firm Dr 70,000.00
To, Partners Remuneration1,00,000.00

Note:1,00,000.00 to be shown in the return
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