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Partnership Firm Related Question

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(Querist)
16 April 2011 can we make any payment to partners other than the Interest and remuneration?
For example, can we make sales commission to the partner or Consultancy fees in some technical matter?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
16 April 2011 Can pay commission or consultancy fee to working partners if the partnership deed permits such payment. However,such payments has to be considered for calculating the remuneration under section 40(b) of the Income tax Act,1961.
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Ratan Sharma

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Ratan Sharma (Expert)
16 April 2011 agree with expert.
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