Salary to partner
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 September 2015
Dear Sir/Mam,
I would like to ask as if a partner can be allowed the deduction of expenses from the salary received from the partnership firm? And if yes, the are there any limits?
Do mention relevant section(s)
Thanks
I would like to ask as if a partner can be allowed the deduction of expenses from the salary received from the partnership firm? And if yes, the are there any limits?
Do mention relevant section(s)
Thanks
21 September 2015
Partner can always claim deduction from such a salary income from FIRM. There is no any SPECIFIC section for the same. It, therefore, follows the residuary section 36.
That expenditure which is incurred to earn this salary income of firm can be claimed as deduction. There is NO any standard formula for the same.
That expenditure which is incurred to earn this salary income of firm can be claimed as deduction. There is NO any standard formula for the same.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- Salary and pension received from Asian Development Bank
- What is provisional receipt number for generation of form 16A
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- BIS Certificates
- Scrutiny assessments u/s 143(2) for AY 25-26
- GSTR-4 Annual Return ! Pending Returns for F.Y. 20-21 to 22-23
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
