Partner's salary .


This query is : Resolved 

10 March 2014 Dear Experts,

Can a Working Partner draw any amount of Salary..as per Deed ??

Thank You.

Anand Dad (Expert)
10 March 2014 Nope.

Refer Sec. 40(b)


10 March 2014 Sec 40(b) is applicable for the Firm to claim Max. permissible Deduction..is it applicable to Partner's..?

Anand Dad (Expert)
10 March 2014 He will be drawing from the firm only no.........

10 March 2014 sorry..i didn't get u..

Anand Dad (Expert)
10 March 2014 Sec 40(b) is for deduction to firms...


correct

Anand Dad (Expert)
10 March 2014 so if the firm cannot pay more than the ceiling, how can the partner receive it.

Anand Dad (Expert)
10 March 2014 You just read the section with free mind in a fresh mood, you youerself will get it.....


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