Partner salary include?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2011 payment made to a partner as professional income as a result of his qualification whether it should be included in partner salary?

DR GAURAV GUPTA FCA, FCS, LL.B

DR GAURAV GUPTA FCA, FCS, LL.B (Expert)
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06 August 2011 no it will not be cosidered as partners salary

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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07 August 2011 yes. need to be added as partner salary,since the there is no relationship of employer and employee relationship in this case cant be treated as Normal salary

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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07 August 2011 I agree with Gaurav

Querist : Anonymous

Querist : Anonymous (Querist)

08 August 2011 thank you sir

CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)
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08 August 2011 It has to be added in partner's salary.

Partners are paid salary not for the capital they bring but for the work they do.

Otherwise what will happen in a professional firm like CA Firm.

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