PARTNERS REMUNERATION
This query is : Resolved
AMIT A SANGHVI
(Querist)
08 May 2010
ONE OF MY CLIENT IS HAVING A LOSS AS PER INCOME TAX CALCULATION.
AS FAR AS PARTNER'S REMUNERATION IS CONCERNED IN CASE OF LOSS & WHERE PARTNERSHIP DEED PROVIDES , WHETHER HE CAN CLAIM MIN AMT. OF REMUNERATION RS.50000.00 REMUNERATION UPTO 30-9-2009 & AFTER THAT DUE TO CHANGE IN PROVISION HE CAN CLAIM RS. 150000.00 REMUNERATION FOR REMAINING SIX MONTH.
IN TOTAL, RS. 25000.00 FOR FIRST SIX MONTH AND RS. 37500.00 FOR REMAINING SIX MONTH CAN BE CLAIMED AS ALLOWABLE REMUNERATION ?
AS FAR AS PARTNER'S REMUNERATION IS CONCERNED IN CASE OF LOSS & WHERE PARTNERSHIP DEED PROVIDES , WHETHER HE CAN CLAIM MIN AMT. OF REMUNERATION RS.50000.00 REMUNERATION UPTO 30-9-2009 & AFTER THAT DUE TO CHANGE IN PROVISION HE CAN CLAIM RS. 150000.00 REMUNERATION FOR REMAINING SIX MONTH.
IN TOTAL, RS. 25000.00 FOR FIRST SIX MONTH AND RS. 37500.00 FOR REMAINING SIX MONTH CAN BE CLAIMED AS ALLOWABLE REMUNERATION ?
AMIT A SANGHVI
(Querist)
08 May 2010
PARTNERS REMUNERATION
09 May 2010
In Income tax, the min. salary which can be given is Rs.50000 for the year in case of loss, excess would be disallowed....
AMIT A SANGHVI
(Querist)
11 May 2010
As per recent changes in amendment to min. remuneration will it be same amount of Rs.50000.00 is applicable for the loss in firm or the revised limit of Rs.150000.00 will apply.?
11 May 2010
this new change will be applicable w.e.f. from 01-04-2010
this new change will be applicable w.e.f. from 01-04-2010
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
