Query in tax audit form 3cd-clause 17(g)

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This query is : Resolved

Guest

Guest (Querist)

16 October 2013 Hi,

Someone may please see the following and if possible, give reply:

Query 1

Whether I need to fill the amount of salary to partner (as per computation and as per Partnership Deed) in this Clause?

Ans : ………………

I have no clarity on this Clause whether to fill or ignore. Please someone extend your guidance from your practical experience.

Ans : ………………

Thanks in advance for your replies.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 October 2013 1. Disclose only the inadmssible amount.
For eg:- Remuneration debited in profit and loss account as per partnership deed is Rs. 1.50 lakhs. Whereas remuneration as per 40(b) is Rs. 1.00 lakhs. Therefore, clause 17(g) may be filled in. amount to be filled is 0.50 lakhs.

2. Please don't ignore for want of clarity.

Guest

Guest (Querist)

18 October 2013 Thanks a lot.

If remuneration as per Section 40(b) is Rs.1.50 Lacs or more, then this clause may not be required to fill in Tax Audit Form.

Once again, thanks.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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18 October 2013 Please fill up as 'Not applicable'.

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