banner_ad

remuneration

This query is : Resolved 
Profile Image

Profile Image

(Querist)
10 August 2009 Is it mandatory to give remuneration to each partner or selected partner can be given remuneration..or remuneration can be given to one single partner on behalf of other???
Profile Image

MoHaN GoYaL ( MTAS)

Profile Image

MoHaN GoYaL ( MTAS) (Expert)
10 August 2009 Mr. RAHUL U wil have 2 follow ur Deed..Just ask deed naaaaaaa..........
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
11 August 2009 Section 40(b) of the Income tax Act,1961 does not say that remuneration should be paid to all the partners. If all the partners are working partners, according to the partnership deed, remuneration to be paid to all of them. Otherwise it can be paid to the working partners,even if they are less than the total number of partners,according to the stipulation in the deed. However, what ever may be the factual situation, the partnership deed should contain, w.e.f assessment year 1996-97, the minimum remuneration, each partners share of remuneration and the method of quantifying the remuneration so as to get the deduction under section 40(b)(v).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details