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 ?
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.?
CAclubindia
