Partnership firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 June 2014
AN EXAMPLE
A FIRM IN A.YR 13-14 HAS GIVEN SALARY TO THE TUNE OF 96000.00 TO EVERY PARTNER , BUT IN THE DEED THERE IS WRITTEN 48000.00 OF SALARY TO BE PAID TO THE PARTNERS . WHETHER IN THIS SITUATION THE EXCESS SALARY PAID TO PARTNERS BE DISALLOWED ?
A FIRM IN A.YR 13-14 HAS GIVEN SALARY TO THE TUNE OF 96000.00 TO EVERY PARTNER , BUT IN THE DEED THERE IS WRITTEN 48000.00 OF SALARY TO BE PAID TO THE PARTNERS . WHETHER IN THIS SITUATION THE EXCESS SALARY PAID TO PARTNERS BE DISALLOWED ?
30 June 2014
Yes, excess salary paid to partners may be disallowance
30 June 2014
yes you cannot make the excess salary from the as written in partner ship deed.
30 June 2014
yes it will be disallowed while computing income from business.
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Banking Related Issue
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
