Remuneration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 March 2012
Do I credit remuneration payable for whole year to working partners or it needs to pay every month ?
what about tds applicability on it ?
thanks
what about tds applicability on it ?
thanks
31 March 2012
1.Payment towards remuneration to partner's are governed by the clauses of the partnership deed. So have a look at the deed and account as said in the deed.
2. No TDS since remuneration is governed by section 28 of the income tax act,1961.
2. No TDS since remuneration is governed by section 28 of the income tax act,1961.
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 March 2012
after all calculation i.e interest on capital, remuneration my profit is Rs. 72650/- for F.Y. 2010-2011 now which entry will have to do ? kindly help me in doing final provisional entry of partnership firm taxation ?
thanks in advance
thanks in advance
01 April 2012
Profit & Loss Account Dr.
To Partners' individual Account
To Partners' individual Account
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