Remuneration
This query is : Resolved
balasundaram
(Querist)
29 September 2008
respected sir/madam
under which head i will show the partners remuneration (income from salarise/business or profession),if salaries head, can i split the HRA, Conveyance from remuneration? and claim it exemption?
thank you
Balu
respected sir/madam
under which head i will show the partners remuneration (income from salarise/business or profession),if salaries head, can i split the HRA, Conveyance from remuneration? and claim it exemption?
thank you
Balu
S.Srinivasaraghavan
(Expert)
29 September 2008
There can be a separate head for remuneration to partners.
Under salaries head you can split.
Exemption in respect of partnership firm or partner?
Under salaries head you can split.
Exemption in respect of partnership firm or partner?
Ravikumar.G
(Expert)
29 September 2008
Remuneration should be accounted in the head Partner's Remuneration.
C No 739/25.03.96
Specfication in Partnershipdeed is must:
Deduction will be allowed only if the partnership deed specifies the amount of remuneration payable to each individual partner or lays down the manner of quantum of such remuneration.
C No 739/25.03.96
Specfication in Partnershipdeed is must:
Deduction will be allowed only if the partnership deed specifies the amount of remuneration payable to each individual partner or lays down the manner of quantum of such remuneration.
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