Tax in the hands of partner on d remuneration recd from firm
Querist : Anonymous
I Have a doubt regarding, payment of Tax in the hands of partner on the remuneration received from firm.
If a firm, pays Rs.24lakhs to a partner and as per its deed only Rs.20lakshs is allowable,so as per Income Tax, the difference of Rs.4lakhs(24-20)remuneration paid was disallowed & paid the tax on the same.
Now, my doubt is whether the partner has to pay the tax on Rs.20lakhs or Rs.24lakhs?.
If he has to pay only on Rs.20lakhs, please refer me any citation(if any) or relevant section for better understanding.
Thanks in advance.
Regards,
CA.Satish.
Querist : Anonymous
Querist : Anonymous
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