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Partnership firm

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Querist : Anonymous

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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 ?

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Deepti Asawa

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Deepti Asawa (Expert)
30 June 2014 Yes, excess salary paid to partners may be disallowance
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Rupesh Jain

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Rupesh Jain (Expert)
30 June 2014 yes you cannot make the excess salary from the as written in partner ship deed.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
30 June 2014 yes it will be disallowed while computing income from business.
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