Partners remuneration details
This query is : Resolved
Prakash C Gowda
(Querist)
04 June 2012
Dear sir,
Rs.1,00,000/- Partners Remuneration paid every month. This Amount Taxable or not?
If this Taxable amount, how to tax exemption taken for every month remuneration.
Please advice me.
With Regds,
Prakash C Gowda
Rs.1,00,000/- Partners Remuneration paid every month. This Amount Taxable or not?
If this Taxable amount, how to tax exemption taken for every month remuneration.
Please advice me.
With Regds,
Prakash C Gowda
04 June 2012
This remuneration is taxable in the hands of the partners under the head Income from Business or Profession.
Prakash C Gowda
(Querist)
04 June 2012
how to without taxable remuneration taken if any other transaction is their?
Thanks in Advance
Prakash C Gowda
Thanks in Advance
Prakash C Gowda
04 June 2012
I am unable to understand your query. Kindly explain in detail.
CA CS Amit S. Kedia
(Expert)
04 June 2012
Tax has to be paid by either of two..
if firm is paying taxes then no need to pay by partners. i.e profits in the hands of partners is not taxable. but the remumneration is taxable as firm is getting deduction from profit.
if firm is paying taxes then no need to pay by partners. i.e profits in the hands of partners is not taxable. but the remumneration is taxable as firm is getting deduction from profit.
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