Regarding partneship deed
Querist : Anonymous
1. Can we have oral partnership deed for income tax purpose ?
2. Is it compulsory to pay interest & Remuneration to partner if mentioned in Deed ?
As we are having totally exempt income so if we dont pay then is there any impact ?
Thanking you in advance.
ii) Not compulsory.
Querist : Anonymous
Is there any judgement so that i can go ahead, one of our client is 100% EOU having profit but not paid Interest & Remuneration to Partner.
If having any link then send the same.
Thanks sir.
Querist : Anonymous
As in our case Firm income is excempt so we need not to pay interest & remuneration to partners.
So if there is any case relating to that then please give citation.
Thanks in advance sir.
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