Salary & remuneration

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 December 2013 Can we pay salary and remuneration to partner at one time

suppose i have client who has a salary of Rs 5,00,000/-
so can we show in the books as 250000/- as salary and 250000/- as remuneration

Nikhil Kaushik

Nikhil Kaushik (Expert)
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30 December 2013 what is the difference?? anything paid to a partner other than profit will anyways be included as business income (including salary paid to him).

Querist : Anonymous

Querist : Anonymous (Querist)

30 December 2013 for TDS if salary word is used then we deduct as per slab rate and as per Sec 194 j
if there is remuneration then we deduct TDS @10%

Nikhil Kaushik

Nikhil Kaushik (Expert)
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30 December 2013 Dear Friend,

TDS provisions don't apply to remuneration/salary paid to partners

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