Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

banner_ad

ACTIVE PARTNER REMUNERATION CEILING

IPCC 289 views 3 replies

Venu Gopal

Accts Assistant

141 Points Posted on 08 June 2021

hii...

Is there any maximum ceiling on active/working partner's remuneration in a partnership that is not registered???

what if the partnership is registered one???

Replies (3)

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 08 June 2021

No there is no such maximum ceiling limit

CMA Poornima Madhava

CMA

13117 Points Posted on 08 June 2021

There is a limit in respect of the remuneration paid to the working partners that can be claimed by the firm as deduction u/s 40(b). Refer for more details: https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 09 June 2021

That limit should be based on book profit

CCI Pro

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register

Recent Topic

More recent discussions | Post

Related Topics

Latest Job Openings

View all

26 May 2026

Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details

22 May 2026

U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details

21 May 2026

Associate

PWC

Kolkata

CA

View Details

16 May 2026

Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details

Featured 27 May 2026

Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details

Featured 26 May 2026

Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details

ARTICLESHIP 15 May 2026

Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details

19 May 2026

Accountant

ca kunjan

Mumbai

CA Inter

View Details