Remuneration and interest to working partners
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 February 2017
Dear Sir
Can partnership firm pay remuneration and interest to its working partners for FY 2016-17 ?? If yes on what basis.
Can partnership firm pay remuneration and interest to its working partners for FY 2016-17 ?? If yes on what basis.
06 February 2017
Remuneration u/s 40b. Book profit upto 150000/ - upto 3 lakhs or 90% of profit and balance 60% of book profit. And interest rate as per deed but it should not exceed 12%.
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