Partnership

This query is : Resolved 

24 November 2014 iam a accountant at ahmedabad . one of my clint start new business with partnership frim my question is following

1- how much rs stamp required for deed in ahmedabad

2- whether it compulusary that salary &remunation mention in deed .if not mention in deed then what happned

3- procedure &cost to get vat&cst no .in ahmedabad,gujarat

plz guide me

thanks


24 November 2014 2. salary and remumenration if not provided then in income tax assessment for allowing dedcution to firm for same ao will refer to income tax provision and similar payments made in same situation in ur area.

26 November 2014 tushar iam nt get proprly what u say .if i not mention remunation in deed . then remunation allwoed or not as a exp in firm books

26 November 2014 it will be allowed subject to income tax provisions applicable to partnership firm in case of non mentioning in deed.

26 November 2014 remuneration and intt will be menton in the partner ship deed otherwise this is not allowed under the income tax act and should be as per income tax limit mention under section 40()b)

30 November 2014 thnaks rupesh &tushar ji .how added remunaction clause in deed plz guide

01 December 2014 you can make a supplementary deed and mention in it


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